Summary by Futu AI
On August 8, 2024, Zijin Mining Group Co., Ltd. announced that it will provide joint liability guarantees not exceeding CNY 9 billion to its controlling subsidiary, Tibet Ju Long Copper Co., Ltd., to support Tibet Ju Long's financing business of not more than CNY 12.2 billion applied by a silver group led by the Bank of China. The guarantee period is up to twelve years, and as of the date of the announcement, Zijin Mining has provided a guarantee balance of CNY 5.5 billion to Tibet Ju Long. Other shareholders of Tibet Ju Long will provide counter-guarantees in proportion to their equity or pay a guarantee fee at an annual interest rate of 1.5%. The guarantee agreement has not been signed yet, and Mr...Show More