en.Wedoany.com Reported - China's Ningbo Yunsheng Co., Ltd. (600366.SH) announced on July 20, 2026, that its investee company, Zhongyun Mining Development Co., Ltd.'s subsidiary, Zhongkuang Hong Kong Rare Earth Resources Co., Ltd., plans to sell its 99% equity stake in African Inkalamo Mining Company Limited (referred to as "African Lion Mining") to Sino Great Chemical Company Limited in cash, with a total transaction consideration of $19.305 million. This transaction is expected to recognize a net profit attributable to the parent company of approximately $7.1623 million for Ningbo Yunsheng.
Ningbo Yunsheng is a listed company primarily engaged in the rare earth permanent magnet materials business, with products widely used in 汽车产业" target="_blank">new energy vehicles, wind power, consumer electronics, and other fields. African Lion Mining, being sold, is a mining company registered in Zambia, whose main asset is a 100% interest in a large-scale mining license numbered 38647-HQ-LML in Zambia. According to the announcement, the cumulative proven rare earth oxide ore resources within the mining area amount to 2.78 million tons, with an average total rare earth oxide (TREO) grade of 2.76%; additionally, associated apatite-type phosphate rock resources amount to 21.82 million tons, with an average P₂O₅ grade of 7.06%. The mining right was approved on December 24, 2024, with a validity period of 25 years, expiring on December 23, 2049, covering an area of 1,850.27 hectares.
From an equity structure perspective, this transaction involves the joint venture company Zhongyun Mining, established by Ningbo Yunsheng and Sinomine Resource Group Co., Ltd. (002738.SZ). Ningbo Yunsheng holds a 45% stake in Zhongyun Mining, while Sinomine Resource holds 55%. Zhongyun Mining indirectly holds a 99% stake in African Lion Mining through its 100% ownership of Zhongkuang Hong Kong Rare Earth. Meanwhile, Sinomine Resource also holds the remaining 1% stake in African Lion Mining through its wholly-owned subsidiary, Sinomine International (Zambia) Engineering Company Limited. According to an announcement released by Sinomine Resource on the same day, it plans to transfer its 1% stake in African Lion Mining to HUANG YAOCHI, with a total transaction consideration of $19.5 million.
Ningbo Yunsheng stated in the announcement that this transaction does not constitute a related-party transaction nor a major asset restructuring. It has been approved at the 22nd meeting of the 11th Board of Directors and does not require shareholder approval. The transaction is subject to the satisfaction of precedent conditions, completion of consideration payment by the counterparty, and relevant parties handling the equity transfer procedures. This equity sale is expected to have a positive impact on the company's 2026 financial statements.
