China’s mining giant to raise USD100million through Mauritian subsidiary

The Mauritian subsidiary of China’s mining giant Jinchengxin plans to raise USD100 million from two Hong Kong based financiers.

The transaction (USD80million in debt and USD20million in equity) will be conducted through Zhiyuan mining, a wholly-owned subsidiary in Mauritius.

The objective of the deal is to meet the capital needs of the construction and operation of a copper mining and metallurgy project in the Democratic Republic of the Congo (DRC).

Hong-Kong based Hibiscus Flowers Investment Limited and inkberry Investment Limited will be the financing party.