Zangge Mining announced that its wholly owned subsidiary Zangge Mining Development plans to establish a holding company, United Resources Company, through Zangge Mining International, and acquire a 92% stake in KP Company for $171,046,592, equivalent to approximately 1.157 billion yuan. Upon completion of the transaction, Zangge Mining will indirectly hold a 69% stake in KP Company, and United Resources Company and KP Company will be included in the consolidated financial statements. KP Company's core assets are the mining rights for the Kanga potash mine and the exploration rights for the Loango potash mine in the Republic of the Congo.
Zangge Holding Co LtdZangge Mining is acquiring a 92% stake in KP Company (Kanga potash mine) for $171 million, expanding its potash assets via M&A.
