Geological Prospecting Units Seek to Get Listed

During China Mining 2012, East China Nonferrous Metals Geological Exploration Bureau,China Metallurgical Geology Bureau, Jiangxi Bureau of Geology and Mineral Resources Exploration, Henan Bureau of Geology and Mineral Resources Exploration, and Northwest Mining and Geological Exploration Bureau for Nonferrous Metals signed a Cooperation Agreement on Pilot Equity Financing in the Venture Exploration Capital Market with Tianjin Mining Exchange. The five units will become the first pilot units to get listed in China’s capital market for mining venture exploration(the new third board market), which signifies that mining venture exploration projects are being accepted in China’s capital market.

It is learned that high-quality mining right assets under these units will be selected to set up a new company in Tianjin. High-quality mining rights will be injected into the new company,which will seek to get listed. This project involves project selection, evaluation, pre-listing tutoring, pricing and issuance, successfully breaking the stereotype that geological prospecting units must undergo restructuring before getting listed.

According to Shao Yi, head of East China Nonferrous Metals Geological Exploration Bureau,since the symposium on the pilot run of the new third board market was held on August 13,the bureau has submitted some domestic and overseas mining rights to Tianjin Mining Exchange. Currently, the rights are under review.These rights are expected to get listed on Tianjin Mining Exchange soon.

It is learned that Jiangxi Bureau of Geology and Mineral Resources Exploration and Henan Bureau of Geology and Mineral Resources Exploration have completed the majority of preparatory work for the listing.