Huaxin Technology to acquire 80% stake in Nigerian tin mining company
2026-10-30 11:35:20 [Print]
Huaxin Resources Technology Co., Ltd. announced that its wholly-owned subsidiary, Lvyuan Recycling Technology, plans to use no more than RMB40 million (USD6.01 million) of its own or self-raised funds to acquire an 80% stake in Nigeria Huani Development Limited. The investment methods include, but are not limited to, providing monetary capital, equipment, or other mutually agreed assets to the target company.
The target company holds a tin mining exploration right in Nigeria. Preliminary estimates indicate tin resources of no less than 20,000 tonnes, with an estimated resource value of at least RMB7.7 billion (USD1.16 billion).
The investment constitutes a related-party transaction. It aims to secure upstream tin resources and form strategic synergy with the company's existing recycled tin refining capacity.
The target company holds a tin mining exploration right in Nigeria. Preliminary estimates indicate tin resources of no less than 20,000 tonnes, with an estimated resource value of at least RMB7.7 billion (USD1.16 billion).
The investment constitutes a related-party transaction. It aims to secure upstream tin resources and form strategic synergy with the company's existing recycled tin refining capacity.
Tin Solder Bar 40%min EXW China
Unit:RMB/kg
China tin concentrate producers' number MoM output increase statistics by province by month
Unit: pcs
