SHANGHAI, Sept.12(CBI China) -- On September 9th, Yunnan Chihong Zinc and Germanium Company announced an additional investment of RMB 430 million in its Hulunbeir Chihong Mining Company affiliate, and necessary to smooth construction of 140kt/yr zinc and 60kt/yr lead smelting units. Shareholders will increase their investments based upon their original share proportions, and will increase registered capital from RMB 150 million to RMB 1 billion. Chihong Zinc and Germanium will continue to hold a 51% share in Hulunbeir Chihong Mining after adding RMB 430 million to the subsidiary.
In addition to the Hulunbeir Chihong Mining projects, Chihong Zinc and Germanium has another lead and zinc project of a 160kt/yr capacity under construction in Huize county, Yunnan province. In 2007, Chihong Zinc and Germanium created Daxinganling Yunye Mining Company to develop lead and zinc resources in Daxinganling, Heilongjiang province, and also plans to build another 200kt/yr capacity lead and zinc project. Completion and start-up dates for the projects are not known.
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