Zijin Mining proposing to acquire controlling stake in Tibet Julong Copper

China's Zijin Mining Group is proposing to acquire a 50.1% equity interest in Tibet Julong Copper for 3.88 billion yuan, or $548 million in cash, the company announced on Monday June 8.

The company’s wholly-owned subsidiary Tibet Zijin will carry out the acquisition from a number of shareholders in Tibet Julong Copper, including Zangge Group, Zangge Holding, Zhongsheng Mining, Shenzhen Chenfang and Huibaihong Industrial.

“The transaction shall be completed in phases, subject to multiple conditions... The success of the transaction is subject to uncertainties. Investors should be aware of...

Published

Sally Zhang

June 08, 2020

09:37 GMT

Shanghai