Plans to Acquire 100% Equity of Minmetals Mining and Luzhong Mining, with Consideration for Assets Injected and Divested at 28.115 Billion Yuan and 5.519 Billion Yuan Respectively

Minmetals Development (600058.SH) announced plans to acquire 100% equity of Minmetals Mining and Luzhong Mining for 28.115 billion yuan (approximately $367.6 million), while divesting assets valued at 5.519 billion yuan (approximately $72.2 million). This major asset restructuring will significantly enhance its control over mineral resources such as iron ore. Transaction details show that the scale of assets injected far exceeds those divested, reflecting the company's strategic focus on resource extraction as its core business.