Shares of Baotou Steel company to acquire mining assets

Baotou Steel Co., Ltd. (600010) 12th announced that the company intends to specific objects Non-public offering a shares not more than 1.63 billion shares, the issue price is not less than 3.68 yuan/share, the total amount of funds collected not more than 6 billion yuan, for the steel group to acquire high-quality mining assets. The additional acquisition of assets, including Baotou Steel Group, run Mining Limited liability company 100% Equity, Bayan OBO Iron ore West mining rights.　　Baotou Steel Group has pledged to subscribe to non-public offerings in cash of not less than 500 million yuan or more than 2 billion yuan. Barun Mining fully responsible for the Bayan OBO West Mine area of all mineral resources exploration, exploitation and development management, for the sole responsibility of Baotou Steel Group in the West mine Bayan OBO Iron ore Mining, mineral processing and day-to-day production and management units. Barun mining mainly focuses on the construction of mining, mineral processing, slurry conveying pipelines and concentrated tailings dry heap treatment of four major projects. At present, the four major projects have been put into production, is expected to reach an annual output of 10 million tons of iron ore production capacity. Another acquisition asset the West mine area of Bayan OBO Iron ore is delineated by 21 inflection points, mining depth from 1674 meters to 1210 meters elevation, mining way for open-pit mining. Iron ore resource reserves of 667 million tons, the West mine is expected to the value of mining rights of about 2 billion yuan. (Uping)