BEIJING, Feb. 27 (Xinhua) -- Chengtun Mining Group Co., Ltd (600711. SH) announced that its indirect wholly-owned subsidiary Xuchen International Limited plans to buy a 100-percent stake in Nzuri Copper Limited in cash, with the transaction not exceeding 114 million Australian dollars (no more than 546 million yuan), according to the company’s filling to the Shanghai Stock Exchange.
Nzuri Copper Limited, a mining company whose major resources are copper and cobalt in the Katanga region of the Democratic Republic of Congo in Africa, is mainly operating the mining projects including Kalongwe and Fold & Trust Belt JV (FTB) project.
Specifically, the Kalongwe mining project has proved mining resources such as 13.46 million tons (tonnes) of ore and 302,000 tons of copper metal, while the FTB exploration project owns 334 square kilometers of total exploration located in the outskirts of Kalongwe project. (Edited by Jiang Feifan)
A single purchase
