China Nonferrous acquires stake in SM Minerals for Benkala project

China Nonferrous Mining Corporation Limited announced its acquisition of a 10.5% stake in SM Minerals, a Kazakhstan-based company, for US$11,763,850. The acquisition is structured through a share subscription agreement, with the funds earmarked for the development and technical exploration of the Benkala Mining Project. As part of the agreement, China Nonferrous initially acquired 5% of the SM Mineral shares for US$5,000,000. Additionally, the agreement includes options for China Nonferrous to potentially increase its stake in SM Minerals by an additional 65% in the future. The move aims to expand the group's copper mining operations in Kazakhstan.