Western Mining Co.,Ltd. acquired remaining 22.725% stake in Sichuan Huidong Daliang Mining Co., Ltd. from ICBC Financial Asset Investment Co., Ltd.
April 29, 2022
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Western Mining Co.,Ltd. (SHSE:601168) agreed to acquire remaining 22.725% stake in Sichuan Huidong Daliang Mining Co., Ltd. from ICBC Financial Asset Investment Co., Ltd. for CNY 1.1 billion on April 21, 2022. Western Mining Co.,Ltd. will finance CNY 57.9 million from its unrealized gains. As on March 31, 2022, Sichuan Huidong Daliang Mining Co., Ltd. generated total assets of CNY 4.1 billion and net assets of CNY 3.9 billion. The transaction is approved by board of directors of Western Mining Co.,Ltd. and is subject to shareholder's approval.
Western Mining Co.,Ltd. (SHSE:601168) completed the acquisition of remaining 22.725% stake in Sichuan Huidong Daliang Mining Co., Ltd. from ICBC Financial Asset Investment Co., Ltd. in April 2022.
Western Mining Co., Ltd. specializes in the production and marketing of nonferrous metals. The group's activity is organized around 2 sectors:
- production, melting and trading of nonferrous metals: zinc concentrate, copper concentrate, silver ingots, electrolytic manganese, electrolytic aluminum, etc.;
- other: distribution of water, of electricity, etc.
China accounts for 77.8% of net sales.
WESTERN MINING CO.,LTD. 
