MCC proposes major asset sale and capital reallocation plan

Metallurgical Corporation of China (MCC) announced a proposed substantial disposal of target equity interests and assignment of debts, totaling RMB60,676.3224 million. This includes the sale of MCC Real Estate and its associated debts for RMB31,236.5898 million, and other non-ferrous engineering and mining interests for RMB29,439.7326 million. The disposal is expected to result in an estimated loss of RMB2,519 million for the group.

The net proceeds from these disposals, estimated at approximately RMB60,213 million, are intended to strengthen MCC's core metallurgical construction business (75%) and supplement the remaining group's working capital and repay existing indebtedness (25%). The company plans to fully utilize these proceeds within five to ten years.

Additionally, MCC is seeking approval to reallocate the entire remaining balance of its A share proceeds (RMB960 million) and H share proceeds (HK$2,275 million), previously designated for the Afghanistan Aynak Copper Mine Project, to replenish its working capital. This move aims to optimize liquidity and enhance capital utilization efficiency. The proposals will be put to a vote at an extraordinary general meeting on December 29, 2025.