Chelyabinsk Zinc Plant Announces About Acquisition
Russia's largest producer of zinc and zinc alloys, is pleased to announce the conclusion of share purchase agreement of JSC "Korbalihinsky mine" dated June 09, 2015.
- Seller - JSC "Sibir-Polymetal"
- Amount of transaction - RUB 3,400,000 thousand.
- Due date - within 2 days from the date of fulfilment of all conditions precedent in accordance with purchase agreement.
This agreement is not a major transaction and the amount of deal is 18.11% of the JSC CZP value of assets (value of the assets - RUB 18,774,653 thousand). In accordance with Russian law approval is not required.
About Korbalihinsky mine
Korbalihinsky mine is the largest deposit of polymetallic ores on the territory of the Russian Federation. Total reserves are estimated at 26 mln tonnes of ore with high content of zinc (more than 6%), copper, lead, gold and silver.
Nowadays mine is under development. After reaching the project capacity production can be up to 1 mln tonnes of ore per year.
About Chelyabinsk Zinc Plant
Chelyabinsk Zinc Plant is the leading Russian zinc producer. In 2014 the plant produced 168,601 tonnes of saleable SHG zinc.
According to consolidated IFRS accounts, revenue in 2014 was RUB 16,508 mln and EBITDA was RUB 3,825 mln.
Ordinary shares of CZP are traded on the Moscow exchange MICEX-RTS under ticker CHZN and Global Depository Receipts (GDR) are traded on the London Stock