Chinese Enterprises To Purchase Laos SEPON Over 500 Million US dollars

The bidding for SEPON Copper Mine, MMG’s mine at Minmetals, has entered its second round of bidding in Asia, with the estimated selling price of the asset likely to reach 500 million U.S. dollars. According to the official website of the MMG, the SEPON copper and gold open pit mine is located in Savannakhet province in southern Laos. The operating company is registered as Lane Xang Minerals Limited (LXML). MMG and the Lao government hold 90% and 10% respectively.

Allegedly, Chinese companies dominated the bidding process, including Chinese mining Hankin. However, the Minmetals Resources and China Han Wang two listed companies in the announcement are not the news. Earlier this morning, Minmetals Resources (1208.HK) soared 2.97% to HK $ 3.81. China Han (3788.HK) soared 7.69% to HK $ 1.4.

Earlier this year, the Han Group sold its gold project in Southern Macau’s Southern Cross to Tianye Group for a consideration of A $ 330 million. In April 2013, Hanking Group acquired the 930-square-kilometer gold project (SXO gold mine) in the Southern Cross, Western Australia for A $ 19.7 million, only after more than three years of development and operation The value has been greatly improved, the sale price of the project reached the total market value of the Han Group listed in Hong Kong, the value of more than 10 times the previous acquisition jumped more than enough to reflect the value of Han Group’s high value management capabilities . It can be seen in detail that investment in overseas mining can make a profit by 36 people.

SEPON copper mine

The SEPON mine commenced production in 2005 with an output of 78,492 tonnes of electrolytic copper last year (2016) and 32,456 tonnes of electrolytic copper in the first half of this year. MMG expects SEPON mine to produce between 65,000 tonnes and 75,000 tonnes of electrolytic copper this year.