Western Region Gold to acquire 100% stake in Xinjiang Meisheng
2025-06-13 14:01:19 [Print]
On June 12, Western Region Gold Co.,Ltd. signed an agreement with Xinjiang Nonferrous Metals Industry (Group) Co., Ltd. to acquire 100% equity in Xinjiang Meisheng Mining Co., Ltd. using a combination of internal funds and bank loans. The transaction is valued at approximately RMB1.66 billion (USD230 million).
Xinjiang Meisheng owns the Kateba'asu gold-copper polymetallic mine in Xinyuan County. Since its acquisition by Xinjiang Nonferrous, the company has not commenced operations or generated revenue. Production is expected to begin in the second half of 2025.
As of December 31, 2024, the mine's registered reserves include 25.67 million tonnes of ore, containing 78.73 tonnes of gold and 48,799.45 tonnes of copper. Once fully operational, the mine will process 4,000 tonnes of ore per day, with an annual output of 1.2 million tonnes.
Xinjiang Meisheng owns the Kateba'asu gold-copper polymetallic mine in Xinyuan County. Since its acquisition by Xinjiang Nonferrous, the company has not commenced operations or generated revenue. Production is expected to begin in the second half of 2025.
As of December 31, 2024, the mine's registered reserves include 25.67 million tonnes of ore, containing 78.73 tonnes of gold and 48,799.45 tonnes of copper. Once fully operational, the mine will process 4,000 tonnes of ore per day, with an annual output of 1.2 million tonnes.
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