China’s Zijin to buy Heilongjiang copper/moly assets for $238 mil

摘要

Zijin Mining has acquired a basemetals mining group based in northeasternChina’s Heilongjiang province for Yuan 1.56billion ($238 million), as the leading Chinesegold producer seeks to boost its reservesand production of copper and molybdenum.Zijin signed on June 3 an agreement forthe transfer of the entire equity interest ofHeilong Mining Group Company from itsshareholders Beijing Zhongrui ChuangxiangInvestment Company (which owns 56.47%),Qinghai West Resources Company (23.43%)and Qinghai West Rare and Precious MetalsCompany (20.1%), the company said in astatement filed with the Hong Kong StockExchange.