AllBright Law Offices and Hai Run Law Firm are advising on Chinese mining giant Zijin Mining’s RMB5.91 billion (USD813.9 million) acquisition of a major stake in Jinsha Molybdenum, which holds the exploration rights to the largest molybdenum and polymetallic mine in Asia.
Zijin Mining acquired an 84% stake in Jinsha Molybdenum through a public tender, which was originally held by Jinmu Geology and Mineral Resources Investment.
AllBright Law Offices’ senior partner Zhu Ming and partner Cheng Yakun acted as Zijin Mining’s legal counsel, conducting risk analysis and negotiation. Meanwhile, lawyers from Hai Run’s Hefei office counselled Jinmu Geology and Mineral Resources Investment.
Jinsha Molybdenum holds the exploration rights of Shapinggou Molybdenum and Polymetallic Mine, a large-scale porphyry molybdenum and polymetallic deposit. Molybdenum is a type of metal widely used in industries such as automotive, energy and aviation.
Zijin Mining, an A- and H-share listed company, has acquired at least seven mining assets in the past year, involving gold, lithium and molybdenum resources, with a total investment exceeding RMB26 billion.
