Sinomine Resource Group's (SHE:002738) subsidiary, Sinomine Kitumba Minerals, agreed to buy electricity from Mumbwa Solar Power Station for 20 years, according to a Shenzhen Stock Exchange disclosure on Tuesday.
The total purchase and sale transaction, which is valid from May 16, 2025 to May 15, 2045, is estimated to be up to 1.2 billion yuan.
The transaction will help meet the electricity needs for production and operations at Zambia's Kitumba copper mine.
Mumbwa Solar Power Station was established by the Chinese lithium miner to build the mine, but is now being sold by the parent, the disclosure said.
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