Guangdong pays $80m for KBL stake

Guangdong Guangxin Mining Resource Group has agreed to pay $80 million for a 25 per cent stake in ASX-listed copper producer KBL Mining’s Mineral Hill copper and metals project.

Dan Hall

Updated Dec 31, 2011 – 2.50am, first published at Dec 30, 2011 – 10.57am

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Chinese state-owned trade group Guangdong Guangxin Mining Resource Group has agreed to pay $80 million for a 25 per cent stake in ASX-listed copper producer KBL Mining ’s Mineral Hill copper and metals project.

The $80 million price-tag is roughly double KBL’s current market capitalisation of around $45 million.