Zijin Mining Extends RMB 66.64 Million Shareholder Loan to Songpan Subsidiary
Stock News
Yesterday
Zijin Mining Group Company Limited (HKG: 2899) has announced its decision to provide a shareholder loan of RMB 66.64 million to its subsidiary, Songpan Zijin, in support of the construction of the "Dongbeizhai Gold Mine 900,000 tonnes per annum mining, beneficiation, and tailings project."
The loan forms part of a broader funding package totaling RMB 280 million that Songpan Zijin is seeking from its shareholders to bridge the capital gap for the project, accelerating the conversion of resource advantages into economic benefits.
Under the agreement, Zijin Mining will extend the loan in proportion to its shareholding in Songpan Zijin, with a tenure of 10 years and an annual interest rate of 5%.
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