Canada’s Silvercorp buying Chinese assets
Canadian company Silvercorp Metals Inc. said Monday it is buying a controlling share in two Chinese mining companies for about $10.4 million, including debt.
Silvercorp will hold a 90 percent stake in Zhongxing Mining Co. Ltd. and Chuanxin Mining Co. Ltd. It will pay $4.3 million cash for the two companies and assume $6.1 million in debt. Silvercorp is making the purchase through its majority-controlled Henan Found Mining Co. unit.