Zijin Mining completes acquisition of Zangge Mining control

Zijin Mining Group Co., Ltd. (SSE:601899) announced that its wholly-owned subsidiary, Zijin International Holdings, has completed the acquisition of 392,249,869 shares of Zangge Mining Co., Ltd. from several investors, effective April 30, 2025. This brings Zijin International Holdings' total stake in Zangge Mining to 411,051,869 shares, representing 26.18% of the total share capital. The acquisition provides Zijin Mining with control over Zangge Mining, enabling financial consolidation. Zijin believes the acquisition aligns with regulatory guidance on mergers and acquisitions, facilitates resource integration, reduces Zijin's debt ratio, and significantly increases Zijin's reserves of copper, lithium, and strategic potash resources. The deal will also provide absolute control over the Julong Copper Mine and facilitate efficient cooperation of salt lake projects in Tibet. The company expects to leverage Zangge Mining's expertise in salt lake development and low-cost lithium extraction to advance its own lithium projects.