Zhi Tong Cai Jing·2025-08-29 11:49Core Viewpoint - Zijin Mining has completed the acquisition of 84% equity in Anhui Jinsan Molybdenum Co., Ltd, enhancing its position in the molybdenum industry and facilitating local economic development through strategic partnerships [1][2] Group 1: Acquisition Details - The acquisition of 84% equity in Jinsan Molybdenum was finalized on August 28, 2025, following the public bidding process initiated on October 21, 2022 [1] - Jinsan Molybdenum holds 100% rights to the Shapingou Molybdenum Mine, which has a total molybdenum metal resource of 2.1 million tons and a metal reserve of 1.1 million tons [1] - The mining rights for the Shapingou Mine are valid until July 28, 2053, with an annual production capacity designed at 10 million tons [1] Group 2: Project Development and Operations - The project construction period is estimated to be 4.5 years, with an expected average annual molybdenum production of approximately 22,100 tons upon reaching full capacity [1] - The company is coordinating with relevant parties to expedite the necessary permits and approvals for the project, including mining licenses and environmental assessments [1] Group 3: Strategic Partnerships - Following the acquisition, Zijin Mining will hold 84% of Jinsan Molybdenum, while Jinduicheng Molybdenum Co., Ltd and Jinzhai County Urban Development Investment Co., Ltd will hold 10% and 6% respectively [2] - A cooperation agreement was signed on August 29, 2025, between Zijin Mining and Jinduicheng Molybdenum to establish a molybdenum smelting project, enhancing the local industrial chain [2] - Jinduicheng Molybdenum will hold 51% of the new smelting company, while Jinsan Molybdenum will retain 49%, ensuring a collaborative approach to the development and operation of the smelting facility [2]