On February 24, Jiangxi Copper Co., Ltd. announced on the Hong Kong Stock Exchange that, on December 24, 2025 (London local time), through its wholly-owned subsidiary Jiangxi Copper (Hong Kong) Investment Co., Ltd., it had issued a formal offer to acquire all issued and to-be-issued share capital of SolGold (excluding shares already held by the company) at a price of 28 pence per share in cash. According to the relevant UK acquisition procedures, a court meeting was held on February 23, 2026 (London local time), where the acquisition plan was voted through. On the same day, the target company also held a general meeting of shareholders, which approved the acquisition plan. Subsequently, the acquisition plan will undergo a sanction hearing by the UK court on March 2, 2026. If approved, it is expected to take formal effect on March 4, 2026.
SolGold was founded in 2006 and is a mineral exploration and development company registered in the UK, headquartered in Perth, Australia, and listed on the Main Market of the London Stock Exchange (stock code: SOLG). Its core asset is a 100% stake in the Cascabel project located in Ecuador.
It is understood that the Cascabel copper-gold project is located in Imbabura Province, northern Ecuador, and is referred to by the industry as "the world's most promising undeveloped copper mine." The project has proven copper resources exceeding 20 million tons and gold resources exceeding 10 million ounces, with a grade as high as 0.7% (the global average copper ore grade is only 0.5%). Furthermore, it is situated in the South American Andean metallogenic belt, which is the world's most resource-rich "golden corridor" for copper deposits.
According to financial reports, Jiangxi Copper's revenue for the first three quarters of 2025 was 396.047 billion yuan, a year-on-year increase of 0.98%; net profit attributable to the parent company was 6.023 billion yuan, a year-on-year increase of 20.85%. Among this, the net profit for the third quarter was 1.849 billion yuan, a year-on-year increase of 35.20%.
