en.Wedoany.com Reported - China's Inner Mongolia Xingye Silver Tin Mining Co., Ltd. issued an announcement, stating that through its wholly-owned subsidiary system, it will acquire the remaining 25% equity of AtlasTin SAS held by Toyota Tsusho Corporation and Nittetsu Mining Co., Ltd., with a total transaction consideration of $23,113,570.
According to the announcement, AtlanticTin Pty Ltd, a subsidiary under Xingye Gold (Hong Kong) Mining Co., Ltd., which is a wholly-owned subsidiary of Xingye Silver Tin, currently holds 75% of the target company's equity and is its controlling shareholder. This acquisition aims to achieve full ownership of the target company, simplify the governance structure, and improve decision-making efficiency. On June 30, 2026, the company signed a Share Purchase Agreement with relevant parties. Under the agreement, the company designated a newly established overseas subsidiary to acquire 848,139 shares (20% equity) held by Toyota Tsusho Corporation, with a transaction consideration of $15,300,000; Xingye Gold (Hong Kong) designated a newly established overseas subsidiary to acquire 212,036 shares (5% equity) held by Nittetsu Mining Co., Ltd., with a transaction consideration of $7,813,570. The funds for both transactions will come from the company's own funds or self-raised funds.
This transaction has been reviewed and approved by the 36th meeting of the 10th Board of Directors of Xingye Silver Tin. According to relevant regulations, it does not constitute a related party transaction or a major asset restructuring, and does not require review by the company's shareholders' meeting. Upon completion of the transaction, the company's subsidiaries will indirectly hold 100% of the target company's equity.
The target company, AtlasTin SAS, was established on January 9, 2018, registered in Meknes, Morocco, with a registered capital of 424,070,000 Moroccan Dirhams. Its main business includes tin resource exploration, development, mineral product production, and sales. Its core asset is the Achmmach tin mine project in Morocco. The mining license is valid until January 17, 2032, covering a mining area of 11.9 square kilometers. According to the "Competent Person's Report on the Achmmach Project in Morocco" compiled by Beijing Sroko Resource Technology Co., Ltd., as of December 31, 2025, based on an underground mining tin cut-off grade of 0.27%, the project's measured resources amount to 2.1 million tons with a tin grade of 0.85% and tin metal content of 18,000 tons; indicated resources amount to 25.2 million tons with a tin grade of 0.62% and tin metal content of 156,000 tons; inferred resources amount to 9.2 million tons with a tin grade of 0.35% and tin metal content of 32,000 tons.
In terms of project development progress, Shanjin Design Consulting Co., Ltd. prepared a new feasibility study report in April 2026, confirming the adoption of an underground mining model. Upon completion, the project will achieve an annual mining capacity of 1.2 million tons. The mine is currently in the pre-construction preparation phase. Xingye Silver Tin stated that full ownership will enable coordinated advancement of mine construction and operations, leverage the company's mining development and management experience, accelerate project implementation, and strengthen tin resource reserves, which will have a positive impact on the company's long-term operating performance.
