Shengtuo Mining: Plans to acquire 50% equity of Nkoyi for $300 million

Shengtuo Mining announced that its wholly owned subsidiary Hongsheng International and Preeminence intend to acquire a 50% stake in Nkoyi for $300 million, thereby obtaining a 30% interest in the specific copper-cobalt mining rights indirectly held by Nkoyi.
After the transaction is completed, Nkoyi will become an equity-affiliated subsidiary of Shengtuo Mining and will not be included in the consolidated financial statements.
This transaction does not constitute an related-party transaction or a major asset restructuring, has been approved by the board of directors, and does not require approval from the shareholders’ meeting.