The Gold Mining Industry Invested 160 Million Yuan To Acquire 41% Stake In Xinhui Copper Industry.

In the evening of November 25th, China

According to the announcement of the gold mining industry, the acquisition price of 19.23% of copper and Hui Mining Co. was 133 million yuan, and Xinhui copper's 41% stake was 23 million 20 thousand yuan.

Li Jia, deputy director general of the gold mining industry, said in an interview with reporters that the pferable shares were pferred to the original price of Zhejiang Zheng bang. The Future Ltd will vigorously expand the mining business in Gansu and Xinjiang.

Before the acquisition, the gold mining industry held 51% stake in Xinhui copper, directly holding 51% stake in copper and Hui mining industry, and indirectly held 11.1% stake in copper and Hui mining industry. Because Xinhui copper also owns 21.77% stake in copper and Hui mining industry, after the acquisition is completed, the gold mining industry will hold 92% stake in copper and mining industries and Xinhui copper industry respectively.

The bulletin shows that the copper smelting industry is located in Jiashi County, Kashi, Xinjiang. It is mainly engaged in the sales of copper mining, mineral processing and copper related products. It has a mining capacity of 100 thousand square kilometers, with a copper ore reserves of 4 million 210 thousand tons, a copper quantity of about 86 thousand tons, and an average grade of 2.05%.

At present, the copper mining industry has achieved 1100 tons of actual mining and processing capacity, and realized a revenue of 160 million yuan in 2009, achieving a profit of 64 million 200 thousand yuan after tax.

Xinhui copper is located in the southern part of Xinjiang, specializing in copper smelting and non-ferrous metal recycling business. It started production in June this year. At present, it has 600 tons of crude copper per day.

In recent years, the development of gold mining industry has been actively carried out, especially in the Xinjiang area, and investment has been continuously increased. At present, 7 enterprises have been operated in Xinjiang.

The gold mining industry has signed the gold resources integration framework agreement with the Aletai government and the Qinggil county government in Xinjiang and Aletai area this year. The company plans to invest 1 billion yuan in the next five years to fully integrate the existing gold resources in the Aletai region, and scale up to 2000 tons / day in the next five years, and plans to invest 500 million yuan in the Xinjiang Qinghe County kupu and wild horse springs area to build 2000 tons / day gold production projects.

The gold mining industry is one of the leading gold producers in China and one of the largest gold smelting enterprises in China. It integrates exploration, mining, mineral processing and smelting business and focuses on the development of gold and other non-ferrous metals industries.