CHINFMINING Completes USD 300.00 Million Zero-Coupon Convertible Bond Issue, Targets Zambian Sulfide Ore Project

Bulletin Express

Sep 02

China Nonferrous Mining Corporation Limited (CHINFMINING) has finalised the issuance of USD 300.00 million zero-coupon convertible bonds due 2031 under its general mandate, meeting all conditions stipulated in the Subscription Agreement. The transaction closed on 2 September 2026, with the bonds slated to commence trading on the Hong Kong Stock Exchange on 3 September 2026; approval for the potential conversion shares has also been secured.

Net proceeds are estimated at USD 300.50 million after fees and expenses. Management intends to allocate the entire amount to the construction of the sulfide ore resource development project for Shaft No. 28 in Luanshya, Zambia. The project requires a total investment of roughly USD 530.00 million, and CHINFMINING plans to deploy all bond proceeds by November 2029, aligning with the project’s construction timetable.

The company will complete the requisite filing procedures with the China Securities Regulatory Commission (CSRC) in due course.

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