China Mining International

China Mining International (CMI): The Geo-exploration and Mineral Devt Bureau of Henan (“Henan Bureau”) is planning to list some of its mining assets via a reverse take-over (RTO) of CMI, making it the first PRC govt-backed mining co to be listed on SGX. The Henan Bureau, which operations span the entire mining chain from exploration to mining, processing and trading, has about 200 licenses in the PRC and close to 100 licenses in over 20 countries globally. The Henan Bureau intends to leverage CMI as its key invmt platform to list and internationalize its mining assets, in particular similar-natured brownfield and late stage mines. Henan Bureau highlights 5 mines of interest, namely a tantalum-niobium mine in Nigeria, a tin-copper mine in Tajikistan, an iron ore mine in South Australia, and two iron ore mines in Xinjiang, which are proposed to be injected into CMI as part of the RTO. The mines in Nigeria and Tajikistan are expected to commence pdtn within the next 6 mths. Upon completion of the RTO, CMI will fully exit its legacy real estate devt business, which is expected to remain competitive and challenging. Believes its new core focus in mining will potentially provide the co with a regular revenue stream over the longer term. CMI was formerly known as Sunshine holdings, a Henan-based developer of residential and commercial properties. in 2011, it sought the approval of shareholders to diversify in to the mining business and changed to its present name in Mar ’13. The proposed RTO is subject to approval by shareholders and SGX.