Zijin Mining Completes US$1.5 Billion Convertible Bond Issue to Fund Peru Project

An update from Zijin Mining Group Co ( (HK:2899) ) is now available.

Zijin Mining Group has completed the issuance of US$1.5 billion zero coupon guaranteed convertible bonds due 2031, with the bonds now listed for trading on the Vienna MTF of the Vienna Stock Exchange. The company plans to allocate around US$1.2 billion of the net proceeds to capital expenditures for constructing its La Arena mining project in Peru, with the remaining funds earmarked for working capital and general corporate purposes, underscoring Zijin’s continued international expansion and investment in large-scale overseas mining assets.

The most recent analyst rating on (HK:2899) stock is a Buy with a HK$47.00 price target. To see the full list of analyst forecasts on Zijin Mining Group Co stock, see the HK:2899 Stock Forecast page.

More about Zijin Mining Group Co

Zijin Mining Group Co., Ltd. is a major Chinese mining company engaged primarily in the exploration, development and production of gold, copper and other mineral resources, with an extensive overseas project portfolio that supports its strategy of expanding its global footprint in the metals and mining sector.

Average Trading Volume: 65,852,163

Technical Sentiment Signal: Buy

Current Market Cap: HK$1153.7B

Learn more about 2899 stock on TipRanks’ Stock Analysis page.