Tibet Mineral Development Co., LTD (SZSE:000762) agreed to acquire the exploration rights in Qiema Copper Mine Lhunzhub for CNY 10 million on February 26, 2013. Tibet Mineral Development will pay 30% of the transfer price i.e CNY 3 million within 7 working days after the signing of the contract, will pay 40% of the transfer price i.e CNY 4 million within 7 working days after the public notice period, and will pay the remaining balance of CNY 3 million within 7 working days after the exploration rights is transferred under the Tibet Mineral's name and after obtaining the new exploration permit. Board of Directors of Tibet Mineral Development approved the transaction on February 26, 2013.