According to Zhituo Finance APP news, Baiyin nonferrous group (601212.SH) announced that the company plans to acquire 100% equity of Serrote company through its wholly-owned subsidiary Baiyin precious metals investment Co., Ltd., thereby indirectly owning 100% equity of Brazilian Serrote copper mine project company MVV; at the same time, acquiring 100% equity of AMH2 (collectively referred to as "symbol company" with "Serrote Company") and repaying external loans of the symbol company. The transaction price is 0.42 billion US dollars, and the company will also provide 10 million US dollars in working capital for project operation.

It is reported that the Serrote mine project started construction in 2019, was completed and put into production in June 2021, reached production in September 2022, and entered a stable production period, with historical capital expenditure of about 0.23 billion US dollars. The project's designed mining scale is 4.1 million tons per year, with an average annual output of concentrate containing 0.019 million tons of copper and 7,300 ounces of gold. In 2023, the actual production of the project was 0.0257 million tons of copper concentrate and 0.0118 million ounces of gold.

After the completion of this transaction, the company will own the Serrote copper mine project located in Brazil, and the amount of copper metal resources will increase from 0.2217 million tons to approximately 0.93 million tons, significantly enhancing resource reserves and security levels. At the same time, the project has been built and put into production, which helps to enhance the company's profitability, improve the level of international operations, and expand the company's layout in nonferrous metals resources in the americas.