Xingye Silver & Tin to sell 60% stake in Shuangyuan Nonferrous
2026-03-04 14:12:32 [Print]
Inner Mongolia Xingye Silver & Tin Mining Co., Ltd. announced plans to sell a 60% equity stake in its wholly-owned subsidiary, Xilingol League Shuangyuan Nonferrous Metals Smelting Co., Ltd., a company mainly engaged in nonferrous metals smelting. The shares will be transferred in two equal 30% tranches to Chenzhou Xiangxiang Logistics Co., Ltd. and Hainan Zhuyuan Industrial Co., Ltd., for a total consideration of approximately RMB208 million (USD30.04 million).
Upon completion of the transaction, Xingye Silver & Tin will retain a 40% stake in Shuangyuan Nonferrous, which will no longer be consolidated into the company's financial statements. The move is aimed at sharpening the company's focus on its core mining business while optimizing asset structure and resource allocation.
Upon completion of the transaction, Xingye Silver & Tin will retain a 40% stake in Shuangyuan Nonferrous, which will no longer be consolidated into the company's financial statements. The move is aimed at sharpening the company's focus on its core mining business while optimizing asset structure and resource allocation.
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