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Home / Metal News / Chengtun Mining Group to Buy Lead-Zinc Mine in Yunnan Baoshan

Chengtun Mining Group to Buy Lead-Zinc Mine in Yunnan Baoshan

Jan 11, 2017 14:05

Source:SMM

Chengtun Mining Group announced that the company planned to issue shares privately to raise RMB 2.5 billion of capitals.

SHANGHAI, Jan. 11 (SMM) - Chengtun Mining Group announced that the company planned to issue shares privately to raise RMB 2.5 billion of capitals.

About RMB 300 million of them will be used to buy an 80% stake in Baoshan Hengyuan Xinmao Mining from Yunnan Geology & Mineral Resources Exploration Engineering and to repay shareholders’ borrowings.

A total of RMB 200 million will be used in informatization platform construction and RMB 2 billion will be added to the company’s liquidity.

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