Shengda Resources (000603.SZ) plans to acquire no less than 58% of Fangxin Mining's shares through equity transfer and capital increase

Zhitong Finance App News, Shengda Resources (000603.SZ) announced that the company plans to acquire no less than 58% of the shares in Funing County Fangxin Gold Mining Co., Ltd. (hereinafter referred to as “Fangxin Mining”, the “target company”) through a combination of equity transfers and capital increases. After the transaction is completed, Fangxin Mining will become the company's holding subsidiary.

The investment matters described in this framework agreement are in line with the company's strategic plan, which helps the company to rely on Yunnan's non-ferrous metal resource endowments. Following the acquisition of the Caiyuanzi Copper and Gold Mine of Sichuan Honglin Mining Co., Ltd. and the Miaohuang copper-lead-zinc-silver mine of Guangxi Laibin Jinshi Mining Co., Ltd., it will enter the Yunnan Qiangui “Golden Triangle” (Youjiang Basin) Kalin gold mining belt to further broaden the company's industrial layout in the southwest region, expand the mineral resource map, consolidate the resource base, and enhance resource guarantee capabilities. After the transaction is completed, it will help increase the company's gold and mineral resource reserves and enhance the company's market competitiveness and sustainable development capabilities.