In the end of the year, China Natural Resources, Inc., the company headquartered in China and incorporated in the BVI, had completed the acquisition of Bolivian corporation Planta Metalurgica Antay Pacha S.A. Planta Metalurgica proposes to operate a copper smelting plant in western Bolivia, and is completing the licensing procedure. The trial run is expected to start in the second quarter of 2017, and commercial production will start in the fourth quarter of the year. The purchase price of US$1,541,129 includes US$1,441,129 of debt that is payable upon demand.
CEO of China Natural Resources commented on the acquisition: "We are excited about the prospects of adding a copper smelter to our mining operations in the PRC and believe that Bolivia, a country abundant in various natural resources, offers us the opportunity to diversify our operation. We will continue to explore new businesses opportunities to contribute to revenues and enhance shareholder values."
