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Sinomine Resource Group Co. Ltd enters into a purchase agreement for the sale of Tsumeb smelter for consideration of C$65.6M

Date Announced

March 7, 2024

Lead Office

Toronto

Value

65.60 Million CAD

On March 7, 2024, a subsidiary of Sinomine Resource Group Co. Ltd. ("Sinomine") entered into a definitive share purchase agreement to acquire Tsumeb smelter, including all associated assets and liabilities, from Dundee Precious Metals Inc.("DMP"). The acquisition will be done through the disposition of all of the issued and outstanding shares it indirectly holds in Dundee Precious Metals Tsumeb Holding Ltd. ("DPMTH") for consideration of C$65.6 million in cash.

Sinomine, located in Beijing, China, provides solid mineral and metal exploration, mining, and other services. Sinomine Resource Group also operates international engineering, international trade, and other businesses.

Dundee Precious Metals Inc, headquartered in Toronto, is an international gold mining company with operations and projects located in Bulgaria, Namibia, Serbia and Ecuador.

McCarthy Tétrault is advising Sinomine with a team led by Joyce Lee (Business) and Jason Gudofsky that includes Gideon Kwinter (Competition/Antitrust).

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