Shengda Resources' (SHE:000603) unit, Yichun Jinshi Mining agreed to receive the exploration rights for the 460 Highland Copper-Molybdenum Mine in Heilongjiang Province, China, according to a Thursday disclosure on the Shenzhen bourse.

All rights will come from Jinxin Mining, which already paid 9 million yuan to Heilongjiang Bingxue Municipal Engineering for the transfer.

The amount is considered paid by Jinshi Mining, but the company will pay the remaining 4.3 million yuan to Heilongjiang Bingxue.

The mining company's shares dropped 4% at the close.