Guizhou Pan-China Mining Transfers Two Mines to Yunnan Luoping Zinc-Shanghai Metals Market

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Guizhou Pan-China Mining Transfers Two Mines to Yunnan Luoping Zinc

Company News 12:05:22PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Guizhou Pan-China Mining Group became the second-largest shareholder of Yunnan Luoping Zinc & Electricity Co. by transferring two mines to the zinc and lead producer.

Guizhou Pan-China would subscribe to nearly 88 million shares issued in a private placement by Yunnan Luoping, taking a 32.4% stake in the company, Luoping told Shenzhen Stock Exchange today.

The two mines to be injected to Luoping are Xiangrong and Derong lead and zinc mines, both located in the southwestern Guizhou province.

The mines are evaluated at 630 millon yuan ($103 million) and are set to raise Yunnan Luoping’s self-sufficiency in metal ores, it said in today’s statement.

 

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Guizhou Pan-China Mining Transfers Two Mines to Yunnan Luoping Zinc

Company News 12:05:22PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Guizhou Pan-China Mining Group became the second-largest shareholder of Yunnan Luoping Zinc & Electricity Co. by transferring two mines to the zinc and lead producer.

Guizhou Pan-China would subscribe to nearly 88 million shares issued in a private placement by Yunnan Luoping, taking a 32.4% stake in the company, Luoping told Shenzhen Stock Exchange today.

The two mines to be injected to Luoping are Xiangrong and Derong lead and zinc mines, both located in the southwestern Guizhou province.

The mines are evaluated at 630 millon yuan ($103 million) and are set to raise Yunnan Luoping’s self-sufficiency in metal ores, it said in today’s statement.