China Nonferrous Mining Corp. Ltd. (HK:1258) has released an update.
China Nonferrous Mining Corporation Limited has entered into a significant connected transaction, purchasing 3,644.442 metric tonnes of high-grade copper cathodes for US$30,745,059.38, with delivery scheduled between September and December 2024. The deal, priced with reference to the London Metal Exchange quotations, adheres to the reporting and review regulations of the Hong Kong Stock Exchange Listing Rules, exempting it from requiring independent shareholder approval. Payment for the copper will be made via wire transfer upon invoice receipt, further consolidating the company’s resource acquisition strategy.
For further insights into HK:1258 stock, check out TipRanks’ Stock Analysis page.