Pengxin International Mining Co.,Ltd terminated the acquisition of 56% stake in Qiemo County Bangtai Mining Investment Co., Ltd. from Xinjiang Hengxin Kunlun Mining Investment Co., Ltd.
January 27, 2022
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Pengxin International Mining Co.,Ltd (SHSE:600490) signed a framework agreement on equity acquisition of 56% stake in Qiemo County Bangtai Mining Investment Co., Ltd. from Xinjiang Hengxin Kunlun Mining Investment Co., Ltd. for CNY 300 million on August 20, 2021. Upon completion, Xinjiang Hengxin Kunlun Mining Investment Co., Ltd. won't hold any equity in Qiemo County Bangtai Mining Investment Co., Ltd.
Pengxin International Mining Co.,Ltd (SHSE:600490) terminated the acquisition of 56% stake in Qiemo County Bangtai Mining Investment Co., Ltd. from Xinjiang Hengxin Kunlun Mining Investment Co., Ltd. on January 27, 2022.
Pengxin International Mining Co.,Ltd, formerly Shanghai Synica Co.,LTD, is principally engaged in the mining, smelting and sales of copper. The Company's primary products is cathode copper, used in electric, light industry, home appliances, machinery manufacturing, construction and defense industries and other fields. The Company's products also include nickel, methanol, polyethylene and purified terephthalic acid. It distributes its products within domestic market and to overseas markets.
Pengxin International Mining Co.,Ltd terminated the acquisition of 56% stake in Qiemo County Bangtai Mining Investment Co., Ltd. from Xinjiang Hengxin Kunlun Mining Investment Co., Ltd.