Tibet Huayu Mining Co., Ltd. announced that it will issue common shares for gross proceeds of no more than CNY 1,802,969,700 on August 19, 2020. The transaction will include participation from not more than 35 investors. The pricing base date is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the pricing base date. The securities to be issued are subject to a hold period of six months. The transaction has been approved by the board of directors at the 23rd meeting of the sixth board of directors and the 17th meeting of the sixth board of supervisors and is subject to the approval by the company’s shareholders meeting, Shenzhen Stock Exchange, and China Securities Regulatory Commission. On September 17, 2020, the company announced that it has received approval for acceptance for application of shares from China Securities Regulatory Commission.