Zijin Mining Group (SHA:601899, HKG:2899) will extend a 73.5 million yuan loan to its investee company, Beizhan Mining, to bolster the development of its iron ore project, according to a Jan. 11 filing with the Shanghai bourse.
The two-year loan carries an interest rate of 3%.
Zijin Mining maintains a 49% stake in both Huajian Co. and Beizhan Mining. Huajian Co. is currently undergoing a merger with Beizhan Mining.
Baodi Mining, the holder of the remaining 51% stake in both companies, has also extended a 76.5 million yuan loan.
Shares of Zijin Mining rose 1% in recent trade.
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