: On 14 July 2021, the Group reached an agreement with La Congolaise d’Exploitation Minière of the DR Congo to acquire its 15% shares of Dathcom Mining SA. The consideration was USD33,440,000. The equity interest transfer of Dathcom Mining SA was completed in November 2021. As at 31 December 2021, the Group had paid USD5,016,000, and the balance of USD28,424,000 was not yet settled. Pursuant to the articles of association of Dathcom Mining SA, the board of directors consists of six directors, including one appointed by the Group. Therefore, the management of the Group considers that the Group has a significant influence over the financial and operating decisions of Dathcom Mining SA, and accounts for it as an associate.
Zijin Annual report 2021
AVZ Price at posting:
78.0¢ Sentiment: Buy Disclosure: Held
