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CHALCO to Build Guinea Alumina Project with Total Investment of USD1B
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CHALCO (02600.HK) announced that Chalco Hong Kong, Mining Company, Port Company and the Guinean Government entered into the Amended and Restated Mining Convention, which amended and supplemented the Mining Convention, in relation to, among other things, the establishment of the Project Company to construct and operate the Guinean Alumina Project, and the transaction in relation to the Option for Additional Equity Participation in the Project Company by the Guinean Party. Pursuant to the Amended and Restated Mining Convention, Chalco Hong Kong intends to establish the Project Company in Guinea through its wholly-owned subsidiary, Chalco Energy Holdings, by way of cash capital contribution. The initial registered capital of the Project Company is proposed to be GNF600 million (equivalent to approximately USD68,200 or RMB470,900). The aggregate number of shares in the Project Company held by the Guinean Party through the Free-carried Shares of the Project Company and the aforesaid additional equity participation shall in no event exceed 35% of the total issued shares of the Project Company. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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