en.Wedoany.com Reported - China's Sinomine Resource Group Co., Ltd. announced on the evening of May 19, 2026, that the company plans to issue A-shares to specific targets, raising total proceeds of no more than 5.2 billion yuan. According to the announcement, the net proceeds after deducting issuance expenses will be used for a 100,000-ton-per-year lithium sulfate project in Zimbabwe, the Kitumba copper mine project in Central Province, Zambia, a 2,000-ton-per-year cesium and rubidium product project by Sinomine New Materials in Jiangxi, China, and to supplement working capital.

Of the 5.2 billion yuan in raised funds, 1.6 billion yuan is planned for the Zimbabwe lithium sulfate project, 1.7 billion yuan for the Zambia Kitumba copper mine project, 450 million yuan for the Jiangxi Sinomine New Materials cesium and rubidium product project, and another 1.45 billion yuan will be used to supplement working capital. Sinomine Resource's fundraising projects this time cover the three major areas of lithium, copper, and cesium/rubidium, corresponding to the company's production bases in Zimbabwe, Zambia, and Jiangxi, China, respectively. The 5.2 billion yuan financing scale reflects the company's strategic intent to extend into multi-metal business directions.

The board of directors of Sinomine Resource reviewed and approved the relevant proposals for this issuance on May 19, 2026, and the company's seventh board of directors decided at its second meeting not to convene a shareholders' meeting for the time being. Previously, the company had disclosed the investment progress of the Kitumba copper mine project in Zambia, with the planned project investment amount adjusted from USD 562.915 million to USD 610.1553 million, the designed smelting production capacity adjusted from 60,000 tons/year of copper cathode to 35,000 tons/year, and the operating period extended from 11 years to 15 years. In addition, the energy-saving report for the Jiangxi Sinomine New Materials 2,000-ton-per-year cesium and rubidium product project passed review in January 2026.

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