Yunnan Tin to Buy Chinese Iron Mines for $155M

Bloomberg reported that Hong Kong-based China Yunnan Tin Minerals Group (HKG:0263) is planning to buy two open-pit iron ore mines in China for US$155 million, after one of its facilities closed due to an accident.

As quoted in the market news:

The company will pay HK$690 million cash, 1.05 billion new shares and HK$300 million of five-year zero-coupon convertible bonds to Mega Marks Ltd., owner of the mines and an ore-processing plant in western China’s Xinjiang region, according to a Hong Kong stock exchange filing yesterday evening.

Read the full Bloomberg article