Yulong Mining to acquire no less than 67% equity of Shaanxi Shanjin Mining
2022-10-14 14:46:11 [Print]
Yulong Mining announced on October 13 that the company intends to acquire no less than 67% equity of Shaanxi Shanjin Mining Co., Ltd. in cash, in order to obtain the mining right of Loufanggou Vanadium Mine project in Shangnan county, Shaanxi province, which is the core asset of subject company. The preliminary valuation of the Subject's 100% equity shall not exceed RMB195 million (USD27.2 million).
The Loufanggou Vanadium Mine adopts underground mining mode with an annual production scale of 660,000 tons and a mining area of 2.513 square kilometers. Its mining license expired on January 17, 2022, with its mining right renewal procedures being processed at the moment.
The Loufanggou Vanadium Mine adopts underground mining mode with an annual production scale of 660,000 tons and a mining area of 2.513 square kilometers. Its mining license expired on January 17, 2022, with its mining right renewal procedures being processed at the moment.
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