JIANGXI COPPER (00358) subsidiary intends to acquire approximately 5.24% equity of SolGold for a total consideration of 18.07 million US dollars.

JIANGXI COPPER (00358) announced on March 12, 2025 (UK time) that its wholly-owned subsidiary, Jiangxi Copper (Hong Kong) Investment Limited (Jiang Copper Hong Kong), has signed a share purchase agreement with SolGold Canada Inc. Jiang Copper Hong Kong will purchase 157 million shares of SolGold Plc (SolGold), a London and Toronto listed company, representing approximately 5.24% of its issued shares, for a total transaction consideration of USD 18.0712 million. Prior to this transaction, Jiang Copper Hong Kong already held 209 million shares of SolGold. Upon completion of this transaction, Jiang Copper Hong Kong will hold a total of 366 million shares of SolGold, representing approximately 12.19% of its issued shares. The announcement stated that through this transaction, the company will become SolGold's largest single shareholder, and subject to agreement between the two companies, the company will provide technical consulting services for SolGold's Cascabel project in Ecuador. The company believes that SolGold, as a mineral exploration and development company, has rich copper ore reserves in Ecuador, and this transaction aligns with the company's development strategy, helping to enhance its industry position and promote complementary development and value creation with SolGold.