Zijin Mining plans to issue USD bonds to purchase copper concentrates overseas

Zijin Mining announced on the 17th that the company’s shareholder meeting recently reviewed and passed the “Proposal on Overseas Bonds Issuance with Overseas Subsidiaries”. According to the plan, Zijin Mining will sell US-denominated bonds to foreign investors through its Hong Kong subsidiary. The completion of the issuance of bonds will be based on "market conditions and investor interest".

Zijin Mining announced that the company’s wholly-owned subsidiary “Zijin International Ltd.” established in Hong Kong will act as an issuer, intending to sell US dollar bonds to institutional and professional investors outside the United States under the US Securities Regulations S Regulation. The bonds will not be placed to Hong Kong's general individual investors and company associates and will not be listed on any stock exchange.

Zijin Mining revealed that the proceeds from the proposed issuance of US dollar bonds will be used for the purchase of overseas copper concentrate from the 200,000-ton copper smelting project of the company’s wholly-owned subsidiary Zijin Copper Co., Ltd. and other capital requirements of the company’s overseas operations.

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