Zijin moves into copper with $548m acquisition

MINING TECHNOLOGY | Chinese miner Zijin Mining Group plans to acquire a 50.1% equity interest in Tibet Julong Copper, a company with rights to two copper deposits in Tibet, for CNY3.88bn ($548m).

The acquisition will be handled through the company’s subsidiary, Tibet Zijin. The 50.1% stake in Julong Copper will be purchased from Zangge Group, Zangge Holding, Zhongsheng Mining, Shenzhen Chenfang and Huibaihong Industrial, all of which hold various interests in Julong Copper.

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