Huayu Mining acquires additional 11% Asia Pacific Mining stake

Tibet Huayu Mining is acquiring an additional 11% equity stake in Asia Pacific Mining, following a valuation adjustment on its existing 40% holding acquired in 2020.

The adjustment was triggered after Asia Pacific Mining met development and operational permit requirements in May 2024. The mining rights asset valuation increased from 2.595 billion yuan to between 3.478 billion yuan and 4.38 billion yuan, driven by inclusion of oxidized ore, technological improvements, and rising gold prices.