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Finally, Zijin goals to take a forty five.9% stake in Mongolia’s Kharmagtai copper and gold mine via Khuiten Metals’ 76.5% stake within the mine, the corporate stated.
The Kharmagtai mine is estimated to carry 2.93 million tonnes of copper and seven.8 million ounces, or 243 tonnes of gold, in keeping with Xanadu’s 2021 annual report.
“The corporate thinks the undertaking has a considerable amount of sources and whole funding is low,” Zijin stated within the submitting, noting that its experience in creating low-grade sources will facilitate the funding.
Zijin at the moment runs abroad copper tasks in Serbia and Democratic Republic of the Congo. It has gold mines in Colombia, Australia, Papua New Guinea and others.
The corporate’s first-quarter web revenue surged 144% from similar interval a yr earlier to six.1 billion yuan ($952.68 million), after posting a file annual revenue for 2021.
($1 = 1.3503 Australian {dollars})
($1 = 6.4030 Chinese language yuan renminbi)
(By Min Zhang and Meg Shen; Enhancing by Christian Schmollinger)
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