Tianshan Aluminum: Signed the “Cooperation Intention Agreement” for the Indonesian bauxite project

Tianshan Aluminum (002532) issued an announcement on the morning of August 8, saying that in order to actively promote the company’s overseas development, obtain upstream high-quality bauxite resources and the integrated development strategy of the industrial chain, expand and strengthen the company’s scale, and enhance the company’s core Competitiveness. The company signed a “Cooperation Intent Agreement” with an Indonesian local mining holding company and its actual controller on August 10, 2021. The company intends to directly or indirectly acquire the target company and/or its three mining companies with no less than 8 % Equity, and intends to cooperate in bauxite mining, supply, sales and other aspects.The transaction does not constitute a connected transaction, nor is it expected to constitute a major asset reorganization as required by the Measures for the Administration of Major Asset Reorganizations of Listed Companies.

The target company holds 100% of the shares of three local mining companies in Indonesia and holds a total of three mining resources mining certificates issued by the Ministry of Energy and Mineral Resources of Indonesia, covering a total area of ​​approximately 3 hectares.The ore produced in the mining area is all gibbsite ore, and the main characteristics of the mining area are as follows: (1) Concentrated distribution; (2) The ore covering layer is thin, about 2 meters on average, which is convenient for open-pit mining; (3) The water system is developed and easy to clean. Large room for improvement of ore taste; (4) Developed water transportation and convenient transportation

Impact on the company:

1.Indonesia is an important bauxite producer and exporter in the world. The company’s deployment of bauxite resources in Indonesia is in line with the company’s main business development direction, which is conducive to extending the company’s integrated upstream and downstream aluminum industrial chain and can further consolidate the company’s raw material supply End, enhance the company’s core competitiveness, and promote the company’s rapid and stable development. 2.The formal agreement for this transaction has not been signed. The cooperation intention agreement signed this time is only the preliminary intention reached between the company and the target company and its actual controller. There are still uncertainties in this transaction, and it is temporarily impossible to predict the impact on the company’s operating results .

Link to this article:Tianshan Aluminum: Signed the “Cooperation Intention Agreement” for the Indonesian bauxite project

Reprint Statement: If there are no special instructions, all articles on this site are original. Please indicate the source for reprinting:Alloy Wiki,thanks

Related Posts