Zijin Mining to Raise 4.8 Bln Yuan for Kolwezi Copper Mine and Recycling Build-out

SHANGHAI, Jul. 11 (SMM) - Zijin Mining's plan released July 8 said it will raise no more than 4.8 billion yuan for the construction of Kolwezi copper mine in Congo, tail-end goods and material recycling build-out and to increase its liquidity, stcn.com reports. 

The Kolwezi copper mine is expected to materialize $319.09 million yuan sales revenue after reaching capacity, its feasibility study report says. The tail-end goods and material recycling expansion project will yield 71.87 million yuan profit once completed.

Besides, the company needs to increase liquidity adding up to 1,341.32 million yuan in three years.

Zijin Mining produced 247.37 tonnes of gold, 414,400 tonnes of copper and 416,900 tonnes of zinc in 2015. 

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