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Huili Resources to off-load Chinese gold subsidiary stake

Huili Resources (Group) Ltd. unit Hami Jiatai Mineral Resource Exploiture Ltd. agreed to sell its entire stake in Shaanxi Jiahe Mineral Exploitation Ltd., which mines, processes and sells gold products in China.

Fugu Fuxinhong Commerce and Trading Ltd. will pay 10.0 million Chinese yuan for the purchase.

Huili said Dec. 24 the disposal allows it to better optimize its business portfolio from a risk management perspective.

Shaanxi Jiahe holds the mining permit of mine 1 at the Huangjinmei gold operations.

As of Dec. 24, US$1 was equivalent to 7.01 Chinese yuan.