Jiangxi Copper Planning To Invest Nearly Rmb 3 Billion In Buying Humon Shares, Holding 29.99% Of Humon



Jiangxi Copper Planning To Invest Nearly Rmb 3 Billion In Buying Humon Shares, Holding 29.99% Of Humon

Jiangxi Copper made an announcement on Mar., 4: the company planned to buy Humon’s RMB ordinary shares of 273 million shares owned by Humon Group, Wang Xin’en, Wang Jiahao, Zhang Jixue and Gao Zhenglin, by the method of agreement transfer. Total amount accounts for 29.99% of target company, transfer price being RMB 2.976 billion. This transaction enables Jiangxi Copper to own 29.99% shares of Humon, becoming a controlling shareholder of Humon.

Leading products and related annual capacity of Humon Group: gold of 50 tons, silver of 1200 tons, copper of 250000 tons, sulfuric acid of 1.4 million tons, capability of gold mining and beneficiation being 5500 tons/day. Humon Group comes out in front relating to gold mining and beneficiation and yield in Chinese gold industry.

This acquisition contributes to an increase in copper market share for Jiangxi Copper in China, especially a big progress in gold business.