Xingye Silver & Tin to acquire 85% stake in Yubang Mining
2024-12-23 14:22:56 [Print]
Inner Mongolia Xingye Silver & Tin Mining Co., Ltd. plans to acquire a 85% equity interest in Chifeng Yubang Mining Co., Ltd. for RMB2.39 billion (USD327 million) using its own capital and self-raised fund. Upon completion, Xingye Silver & Tin will become the controlling shareholder of Yubang Mining, which owns the mining right of Shuangjianzi silver and lead mine in Bairin Left Banner, Inner Mongolia.
As of March 31, 2017, Shuangjianzi silver and lead mine had a total measured, indicated and inferred reserves of 158.98 million tonnes at 138g/t Ag, 1.03% Pb, and 1.46% Zn, containing 15,129.3 tonnes of silver, 389,119t of lead, and 1,500,462t of zinc. The mine also had associated reserves containing 3,110.08t of silver, 461,905t of lead and 388,170t of zinc.
As of March 31, 2017, Shuangjianzi silver and lead mine had a total measured, indicated and inferred reserves of 158.98 million tonnes at 138g/t Ag, 1.03% Pb, and 1.46% Zn, containing 15,129.3 tonnes of silver, 389,119t of lead, and 1,500,462t of zinc. The mine also had associated reserves containing 3,110.08t of silver, 461,905t of lead and 388,170t of zinc.
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