China Nonferrous Metals (01258) completed the issuance of US$300 million zero-interest convertible bonds due in 2031

According to the Zhitong Finance App, China Nonferrous Mining (01258) issued an announcement. All prerequisites for issuing bonds in the subscription agreement have been met, and the issuance of bonds with a total principal amount of 300 million US dollars was completed on September 2, 2026. After deducting fees, commissions and other estimated expenses, the net proceeds from the bond issuance are estimated to be approximately US$300.5 million. The company plans to use all of the net proceeds to fund the construction of the No. 28 Shaft Sulphide Mine Resource Development Project in Luanxia, Zambia. The total investment amount of this project is estimated to be approximately US$530 million, and the company plans to use all net proceeds by November 2029. This arrangement is in line with the planned infrastructure period for this project. Approval for the listing and trading of bonds on the Hong Kong Stock Exchange is expected to take effect on September 3, 2026. The company has obtained approval to convert its shares to be listed and traded on the Hong Kong Stock Exchange.