CHINFMINING increased its stake in SM Minerals for a consideration of USD 89 million
China Nonferrous Mining (01258.HK) announced that it will purchase a total of 64,706 shares of Kazakhstan's SM Minerals from existing shareholders for USD 89 million. Upon completion, the company's stake in SM Minerals will increase from the current 15% to 70%.
SM Minerals, through its subsidiaries, owns the Bonkar project, which includes the northern mining rights and southern exploration rights of Bonkar. The project is initially expected to have an open-pit ore processing capacity of 14 million tons per year, ultimately reaching an annual production of copper concentrate containing approximately 45,000 tons of copper. Construction is planned to start in 2027, with production expected to commence in 2029
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