Jinhui Mining to Acquire Full Stake in Fusheng Mining for 210 Million Yuan

Stock News02-09

Jinhui Mining Incorporation Limited (603132.SH) has announced plans to acquire a 100% equity interest in Huixian Fusheng Mining Development Co., Ltd., known as Fusheng Mining, for a cash consideration of 210 million yuan. The acquisition is intended to expand the company's operational scale and strengthen its core competitiveness. Upon completion of the transaction, Fusheng Mining will become a wholly-owned subsidiary of Jinhui Mining and will be included in the company's consolidated financial statements.

Fusheng Mining holds one mining right for the Huixian Laoshenggou Gold Mine, which is authorized for gold extraction with an annual production capacity of 50,000 tons. The mining area spans 1.2022 square kilometers, and the mining right remains valid until April 20, 2035. As of the reserve verification reference date of October 31, 2014, the mine contained estimated ore reserves of 771,574.28 tons, with gold metal content of 1,626.43 kg and an average gold grade of 2.11 grams per ton.

Following the acquisition, Jinhui Mining will hold a 100% stake in Fusheng Mining. The Laoshenggou Gold Mine, operated by Fusheng Mining, is located in Jialing, Huixian, within the Huixian–Liangdang gold metallogenic belt. This region is characterized by favorable metallogenic conditions, high gold grades, and significant resource advantages.

The transaction is expected to support the company's business expansion efforts and align with its development strategy. It will help establish gold resource development as a new growth driver for the company, enhance resource reserves, and improve sustainable development capabilities and overall competitiveness.

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