Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) agreed to acquire the remaining 25% stake it does not already own in a Moroccan tin mine project for $23.1 million, according to a Shenzhen Stock Exchange filing on Wednesday.
The company will buy the stake in Atlas Tin SAS, which owns the Achmmach tin mine project in Morocco, from Japanese partners Toyota Tsusho (TYO:8015) and Nippon Steel's (TYO:5401) mining unit.
The project has a total mining area of 11.9 square kilometers. Its mining license is valid until Jan. 17, 2032.
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