Zijin Mining Group (02899) signs cooperation and equity transfer agreement for Shapingou Molybdenum Mine project.

Zijin Mining Group (02899) announced that on January 15, 2026, the company signed a "Project Cooperation and Equity Transfer Agreement" with Jinduicheng Molybdenum Co., Ltd. (hereinafter referred to as "Jinduicheng Molybdenum", Shanghai Stock Exchange code: 601958). Based on the framework of the "Cooperation Intention Agreement" signed on August 29, 2025, the two parties formally reached a comprehensive cooperation on the integrated development and deep processing of the Shapingou Molybdenum Mine in Jinzhai County, Anhui Province. According to the "Cooperation Agreement," Jinduicheng Molybdenum and Anhui Jinsha Molybdenum Co., Ltd. (holding 100% equity of Shapingou Molybdenum Mine, hereinafter referred to as "Jinsha Molybdenum") should jointly invest to establish a smelting company (hereinafter referred to as "Smelting Company") in the county where Jinsha Molybdenum is located, engaged in molybdenum metal smelting and deep processing businesses. The registered capital, investment scale, construction capacity of the Smelting Company should match the scale of development and construction of the Shapingou Molybdenum Mine, and ensure a stable synergistic relationship. Jinduicheng Molybdenum and Jinsha Molybdenum will respectively hold 51% and 49% equity in the Smelting Company, with the construction and operation of the Smelting Company led by Jinduicheng Molybdenum, and specific matters to be further clarified in a separate agreement by relevant parties. Subject to Jinduicheng Molybdenum agreeing to establish, construct, and operate the Smelting Company in accordance with the terms and arrangements of the "Cooperation Agreement," Zijin Mining Group agrees to transfer 24% equity of Jinsha Molybdenum to Jinduicheng Molybdenum for a consideration of RMB 1.73 billion. After the transfer, Zijin Mining Group or its subsidiaries, Jinduicheng Molybdenum, and Jinzhai County Urban Development Investment Co., Ltd. will respectively hold 60%, 34%, and 6% equity of Jinsha Molybdenum, with Zijin Mining Group leading the construction and operation of Jinsha Molybdenum. The Shapingou Molybdenum Mine is a globally rare undeveloped large-scale porphyry molybdenum deposit, with advantages such as large resource reserves, single composition, concentrated ore bodies, and high grade. This cooperation will establish a complementary pattern where Zijin Mining Group leads in mine development and Jinduicheng Molybdenum leads in smelting and processing, promoting the efficient development of the Shapingou Molybdenum Mine, extending the industrial chain, driving local economic development, and accelerating the transformation of resource advantages into economic benefits.