Zijin Mining completes asset sale; board and management changes

Zijin Mining Group Co., Ltd. has completed the external sale of assets, specifically the Bullabulling Gold Mine ("BAB Project") in Australia. Norton Gold Fields Pty Limited, a wholly-owned subsidiary of Zijin, finalized an agreement with Minerals 260 Limited on January 1, 2025, to sell 100% equity interest in Bullabulling Gold Pty Ltd. The transaction consideration comprised AUD156.5 million in cash and AUD10 million worth of Minerals 260 shares newly issued to Norton, representing 3.87% of Minerals 260's total issued share capital. The BAB Project held gold resources of 72 tonnes as of the end of 2024, with an average grade of 1.2 grammes/tonne.