Western Region Gold to acquire gold-copper polymetallic mine in Xinjiang
2025-05-08 14:44:34 [Print]
On May 7, Western Region Gold Co., Ltd. entered into a cash purchase agreement with Xinjiang Nonferrous Metals Industry (Group) Co., Ltd. to acquire 100% equity in Xinjiang Meisheng Mining Co., Ltd.through a combination of internal funds and loans. The transaction price has yet to be determined. Upon completion of the deal, Xinjiang Meisheng will become a wholly-owned subsidiary of Western Region Gold.
Xinjiang Meisheng owns the Kateba'asu Gold-Copper Polymetallic Project in Xinyuan County. Since its acquisition by Xinjiang Nonferrous Metals, Xinjiang Meisheng has not yet commenced production or business operations. The Kateba'asu Gold-Copper Mine has proven ore resources of 25.67 million tonnes, containing 78.7 tonnes of gold. Once the project is fully developed and operational, it is expected to achieve a production capacity of 4,000 tonnes per day, with an annual output of 1.2 million tonnes of ore, amounting to 3.3 tonnes of gold, presenting strong development prospects.
Xinjiang Meisheng owns the Kateba'asu Gold-Copper Polymetallic Project in Xinyuan County. Since its acquisition by Xinjiang Nonferrous Metals, Xinjiang Meisheng has not yet commenced production or business operations. The Kateba'asu Gold-Copper Mine has proven ore resources of 25.67 million tonnes, containing 78.7 tonnes of gold. Once the project is fully developed and operational, it is expected to achieve a production capacity of 4,000 tonnes per day, with an annual output of 1.2 million tonnes of ore, amounting to 3.3 tonnes of gold, presenting strong development prospects.
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