Xinjiang Xinxin Mining seeks higher transaction caps after acquisitions, price hikes

Xinjiang Xinxin Mining Industry Co., Ltd. has proposed a substantial revision to its annual caps for continuing connected transactions under the 2024 Mutual Supply Agreement for the three years ending 31 December 2027. The revisions are primarily attributed to the acquisition of a 51% equity interest in Huaou Mining in June 2025, which introduced new construction and supporting services needs. Additionally, increased copper product prices and anticipated growth in other company products have necessitated adjustments.

The company aims to significantly increase caps for construction services, supporting and ancillary services, and the company's products. For construction services, the cap for 2025 is proposed to rise from RMB143.4m to RMB307.519m. Supporting and ancillary services will see an increase from RMB167.262m to RMB211.888m in 2025, partly due to potential crude nickel sulfate procurement.

Sales of the company's products are also projected to grow, with the 2025 cap increasing from RMB757.481m to RMB812.628m. This is largely driven by a sustained upward trend in copper prices, exceeding previous estimates. Shareholders will vote on these revised caps at an Extraordinary General Meeting on December 24, 2025.