Chelyabinsk zinc plant purchased 100% in Korbalikhinsky mine

​The Chelyabinsk zinc plant has announced of the purchase of 100% of shares of Korbalikhinsky mine JSC from “Siberia-Polymetals” OJSC. The deal is not large and should not be approved in conformity with the Russia’s legislation.

The purchase-and-sale agreement was signed on June 9th. The amount of the deal made up 3.4 bln roubles. The period of execution of obligations is within 2 days from the moment of execution of all conditions presupposed by the purchase-and-sale agreement. The deal is not large and is 18.11% of the value of assets of Chelyabinsk zinc plant (value of assets -18,774,653,000 roubles).

The Korbalikhinsky mine is located in the Altai region to the north-east of Zmeinogorsk. The reserves of the deposit are assessed at 26 mln tons of ore containing zinc, copper, lead, god and silver.