Sinomine Hong Kong Rare Earths to divest 99% stake in African Inkalamo Mining
2026-07-21 14:27:57 [Print]
Ningbo Yunsheng Co., Ltd. announced on July 20 that its investee company, Zhongyun Mining Development Co., Ltd., through its subsidiary Sinomine Hong Kong Rare Earth Resources Co., Ltd., will transfer a 99% equity interest in African Inkalamo Mining Company Limited to Sino Great Chemical Company Limited. The transaction, structured as an all-cash deal, is valued at USD19.305 million.
African Inkalamo Mining's core asset is its 100% interest in large-scale mining license No. 38647-HQ-LML, which was granted on December 24, 2024, and remains valid through December 23, 2049, covering an area of 1,850.27 hectares. According to exploration data, the license area hosts rare earth oxide (TREO) resources of 2.78 million tonnes at an average grade of 2.76% and associated apatite-type phosphate rock resources of 21.82 million tonnes at an average P2O5 grade of 7.06%.
African Inkalamo Mining's core asset is its 100% interest in large-scale mining license No. 38647-HQ-LML, which was granted on December 24, 2024, and remains valid through December 23, 2049, covering an area of 1,850.27 hectares. According to exploration data, the license area hosts rare earth oxide (TREO) resources of 2.78 million tonnes at an average grade of 2.76% and associated apatite-type phosphate rock resources of 21.82 million tonnes at an average P2O5 grade of 7.06%.
