Zhongjin Gold subsidiary to sell assets worth $12.87 mln

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Zhongjin Gold subsidiary to sell assets worth $12.87 mln

Shanghai. March 10. INTERFAX-CHINA - Hubei Sanxin Gold Copper Co. Ltd. (Hubei Sanxin), a subsidiary of Shanghai Stock Exchange-listed Zhongjin Gold Corp. Ltd. (Zhongjin Gold), will sell three mining assets for a total of RMB 84.55 million ($12.87 million), Zhongjin Gold announced March 10.

Hubei Sanxin, which holds 90 percent stakes in both Sichuan Tongyang Investment Co. Ltd. and Sichuan Pingwu China Gold Mining Co. Ltd., plans to sell off its holdings in the companies.

Tibet China Gold Mining Co. Ltd., a wholly owned Hubei Sanxin asset, will also be sold.

The stakes were originally purchased from Zhongjin Gold's parent company, China National Gold Group Corp., in September 2008, Interfax previously reported.

- KHM