Xinjiang Tianye announced on September 30 that it plans to acquire, through a non-public agreement, 100% equity in four wholly owned subsidiaries held by Tianfu Xinye: Jingyi Mining, Tianbochenye, Group Mining, and Turpan Mining, for a total of 865 million yuan, funded by the company's own capital. Upon completion of the transaction, these four companies will become wholly owned subsidiaries of Xinjiang Tianye, consolidated into the company's financial statements, and managed as controlled subsidiaries. Through this acquisition, Xinjiang Tianye will add four limestone mines with a combined annual mining capacity of 9.45 million tonnes, salt mine resources with an annual mining volume of 200,000 cubic metres, three lime production bases with a cumulative annual production capacity of 2.6 million tonnes, and one industrial salt production base with an annual capacity of over 300,000 tonnes. The company stated that this move will secure the supply of lime and raw salt raw materials and create a new source of performance growth.
Xinjiang Tianye Co LtdAcquiring four mining companies secures lime and raw salt raw material supply with 9.45M tonnes of limestone capacity and new production bases.
