Zijin Mining over 1.5 billion *** acquisition of copper mines

Zijin Mining announced that it will acquire 100% equity of Heilong Mining with a cash consideration of 1.561 billion yuan, which will be funded by its own funds or banks. Upon completion, the company will hold 100% of each of Duobaoshan, Tongshan and Heilong Mining. Their major assets include Heilong Mining's headquarters building, 11 exploration rights, and 3 mining rights.

According to the statement, the transaction will help the company integrate the Heilongjiang Duobaoshan Copper Mine and its surrounding resources, implement development plans, promote the large-scale development of the project and increase resource utilization, which will also help increase the company's copper resources reserve.