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About Xingye Mining

Xingye Mining (兴业矿业) (SZ: 000426) is a producer of lead, zinc, copper, iron, bismuth, tungsten, silver, tin and other non-ferrous metal and black metal.

Xingye Mining Headquarter Location

No.76 Yulong Street

Chifeng, Inner Mongolia,

China

0476-8833333

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Latest Xingye Mining News

China's Xingye Mining Grinds to Halt After Deadly Mine Accident; Shares Fall 9%+

Feb 26, 2019

China's Xingye Mining Grinds to Halt After Deadly Mine Accident; Shares Fall 9%+ Yicai Global China's Xingye Mining Grinds to Halt After Deadly Mine Accident; Shares Fall 9%+ (Yicai Global) Feb. 26 -- An accident killed 22 miners who were descending to the Xingye Mining unit's silver mine on Feb. 23, the Inner Mongolia-based company said in a statement yesterday. Local regulators have now ordered the subsidiary and other Xingye Mining units to halt production, which will greatly affect the parent's cash flow and operating profit, and which caused its shares [SHE:000426] to plummet 9.25 percent to close at CNY6.67 (USD1.00) today. The Xilingol League, Inner Mongolia-based Yinman Mining, the wholly-owned Xingye Mining unit, suffered the major transport accident in its mine on Feb. 23 when a shuttle bus carrying the workers down a tunnel to the pithead suffered brake failure and lost control, slamming into an auxiliary ramp. Ten persons charged with responsibility for the accident have been detained, with one released on bail, Legal Daily reported. The authorities also suspended the production of all Xingye Mining's other units, including Rongguan Mining, which has an annual output of 1.35 million tons, Xilin Mining with a yearly yield of 720,000 tons, and Qianjinda Mining whose pit is still under construction. Xingye Mining cannot calculate the exact impact of the suspension on its performance since it does not know when it may resume production, it added. Founded in 1996, the company is based in Chifeng, also in China's northern Inner Mongolia region, where a large-scale non-ferrous metal belt has been identified. The Yinman Mining unit mainly extracts silver, tin, copper and other non-ferrous metals and has a 1.65 million-ton annual production capacity. It gained net profit of CNY400 million (USD60 million) from January to September last year from its non-ferrous metal operations, making up over 70 percent of the company's total net profit, Xingye Mining said in a statement today. The family of Ji Xingye, the company's actual controller, made the Hurun Rich List of China's wealthiest individuals with a net worth of CNY5.6 billion (USD836 million) in 2017. Editor: Ben Armour

Xingye Mining Investments

1 Investments

Xingye Mining has made 1 investments. Their latest investment was in Kunming Dongchuan District Tongdu Mining Co. as part of their Corporate Minority on July 7, 2018.

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Xingye Mining Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/13/2018

Corporate Minority

Kunming Dongchuan District Tongdu Mining Co.

$43.94M

Yes

1

Date

7/13/2018

Round

Corporate Minority

Company

Kunming Dongchuan District Tongdu Mining Co.

Amount

$43.94M

New?

Yes

Co-Investors

Sources

1

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