Yunnan Copper plans asset restructuring, seeks funds for mining project

Yunnan Copper Co., Ltd. (SZSE:000878) is set to undergo a significant asset restructuring, according to a series of announcements. The company plans to acquire 40% of Liangshan Mining Co., Ltd. from Yunnan Copper (Group) Co., Ltd through a share issuance, and raise up to CNY 1.5 billion in complementary funds via share issuance to China Aluminum Corporation and China Copper Corporation. These funds will support the construction of Liangshan Mining's Hongnipo copper mine and supplement working capital, with a portion not exceeding 25% allocated for that purpose.