By: Staff Writer
A subsidiary of the China-based mining company Sinomine Resource Group has finalised the purchase of Dundee Precious Metals’ Tsumeb specialty smelter for N$917 million.
The acquisition encompasses all associated assets and liabilities, achieved through the transfer of all issued and outstanding shares indirectly held by Sinomine.
“We are pleased to announce the sale of the Tsumeb smelter, which aligns with our strategic objective of concentrating on our gold mining assets and streamlining our portfolio moving forward,” said David Rae, President, and CEO of Dundee.
Dundee initially acquired the smelter in 2010 to establish a processing outlet for the complex concentrate generated by the company’s Chelopech mine in Bulgaria.
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