HONG KONG, Dec. 23, 2016 /PRNewswire/ -- CHINA NATURAL
RESOURCES, INC. (NASDAQ: CHNR), a company based in the People's Republic of China, today
announced that it had completed the acquisition of Planta
Metalurgica Antay Pacha S.A. ("Antay Pacha"), a Bolivian
corporation from a related party. Antay Pacha proposes to operate a
copper smelting plant in western Bolivia. The plant is substantially
constructed, and Antay Pacha is completing the licensing and
permitting processes. It is anticipated that a trial run will
commence in the second quarter of 2017 and that commercial
production will commence in the fourth quarter of 2017. Once fully
operational, the plant has a designed annual production capacity of
3,000 tons of copper cathodes.
The US$1,541,129 purchase price
includes US$1,441,129 of debt that is
payable upon demand. Additional details are disclosed in the
Current Report on Form 6-K filed with the Securities and Exchange
Commission on December 23, 2016.
Wong Wah On Edward, CHNR's Chief
Executive Officer, commented: "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."
About China Natural Resources
China Natural Resources, Inc., a British Virgin Islands corporation, through
its operating subsidiaries in the
People's Republic of China and Bolivia, is currently (a) engaged in the
acquisition and exploitation of mining rights, including the
exploration, mineral extraction, processing and sale of iron, zinc
and other nonferrous metals, extracted or produced at mines
primarily located in Anhui
Province in the PRC and (b) completing its plant and related
activities preparatory to commencing the smelting of copper ore and
production of copper cathodes at its plant located in western
Bolivia.
Notice Regarding Forward-Looking Statements
The SEC encourages companies to disclose forward-looking
information so that investors can better understand a company's
future prospects and make informed investment decisions. This press
release contains includes "forward-looking statements" within the
meaning of federal securities laws including the Private Securities
Litigation Reform Act of 1995. Words such as "may," "expect,"
"would," "could," "anticipate," "intend," "plan," "estimate",
"predict", "continue" and words and terms of similar substance used
in connection with any discussion of future operating or financial
performance, identify forward-looking statements. Forward-looking
statements represent management's current judgment regarding future
events and are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those
described in the forward-looking statements. These statements
include, without limitation, statements regarding the intent,
belief and current expectations of management with respect to the
Company's policies regarding investments, dispositions, financings,
conflicts of interest and other matters; and trends affecting the
Company's financial condition or results of operations.
Forward-looking statements are not a guarantee of future
performance and involve risks and uncertainties, many of which are
outside of our control, and actual results may differ materially
from those in the forward-looking statement. Among the risks and
uncertainties that could cause our actual results to differ from
our forward-looking statements are: uncertainties relating to our
business operations and operating results; uncertainties regarding
the governmental, economic and political environment in
the People's Republic of China;
uncertainties associated with the volatility of metals prices;
uncertainties associated with the Company's reliance on third-party
contractors; uncertainties regarding the governmental, economic and
political environment in Bolivia;
and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission, including without
limitation the information set forth in our Annual Report on Form
20-F under the heading "Risk Factors". While management believes
that its assumptions forming the bases for forward-looking
statements are reasonable, assumed facts or bases generally vary
from actual results, and there can be no assurance that the
expectations or beliefs expressed in forward-looking statements
will be achieved or accomplished.
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SOURCE China Natural Resources, Inc.