Shengda Mining pays 109 million yuan for 44 per cent stake in Deyun Mining, which owns lead and zinc polymetallic mines

SMM7, March 23: Shengda Mining announced that the company intends to buy 44% of the shares of Deyun Mining at a price of 109.3271 million yuan (including the creditor's rights of the other party to Deyun Mining). After the completion of the acquisition, the company will become Deyun Mining's largest shareholder, to achieve relative control. The company is also in talks to acquire a further 7% to 10% of the shares, so that the company holds more than 51% of Deyun mining shares, to achieve absolute control. Deyun Mining currently has one exploration right, that is, the lead-zinc polymetallic deposit in Bayan Baoleger District, Arukerqin Banner, Inner Mongolia Autonomous region. The acquisition of exploration rights is still in the name of Deyun Mining, does not involve the transfer of exploration rights.