Yunnan copper industry 166 million listed for sale Lanping Cloud mine

Yunnan Copper (000878) plans to sell the Lanping Silver Industry Co., Ltd. 51% Equity, the final determination in the equity exchange of the listing price of 166 million yuan.　　So far the listing has not been formally traded. As early as June 30 this year, the company proposed plans to sell Lanping shares in the cloud. Lanping Mine owns the mining right and Lanping of copper-silver polymetallic prospecting right, the main business of mining and metallurgy area of mine mining right 1.9349 square kilometers within the scope of the silver mine and the copper-silver polymetallic ore deposit 26.87 square kilometers within the scope of prospecting work. Mining method is open pit mining, beneficiation for the wet heap leaching, the main extraction of silver metal in the ore, mining work for the outsourcing, the permanent mining machinery construction team, the daily mining capacity of 1600 tons, currently built a 50,000 square meters of the yard, replacement workshop a day of processing liquid 1600 cubic meters, The leaching agent is sodium cyanide. The company designed production capacity of: 300,000 tons/year, the current actual production capacity of 200,000 tons/year.　　The reason why the production is not full load is the fluctuation of the silver price, which restricts the production to avoid the waste of resources. By the end of 2009, the book value of net assets of Lanping Silver Co., Ltd. was 230 million yuan, with an evaluation value of 306 million yuan.　　2009, the company's main business income of 22.8023 million yuan, loss of 40.0164 million yuan. Yunnan copper Industry, said that the sale of Lanping Yun 51% stake in the main based on the Lanping cloud resources need to be further explored, there is uncertainty; at the same time, the area of my silver mine using the traditional cyanide leaching process, and Yunnan Copper industry has limited grasp of this technology, it is difficult to meet production needs.　　In addition, in recent years, further understanding of the resources, as well as Chinalco and cloud Copper Group "highlight the main business and efficiency, take into account the strategic development needs" of the investment principles, decided to sell the stake. According to the request of the assignee, in order to establish good local geology and mineral relations, the assignee shall continue to carry out the employment agreement signed between the Enterprise and the three Committee after the completion of the assignee.