Censere values CMOC's Northparkes copper mine acquisition

China Molybdenum Co., Ltd (“CMOC”) is a Hong Kong listed (stock code 3993) Chinese mining company specializing in mining, dressing, smelting and processing of molybdenum and tungsten. Currently their market value ranks in the top 30 mining companies globally, and they are the world's fourth-largest molybdenum and second-largest tungsten concentrate producer.

In July CMOC announced that it was acquiring a 80% stake of the Northparkes copper and gold mine located in Australia’s New South Wales from the Rio Tinto Group. The transaction is valued at over $800 million USD. Censere was assigned as the competent person for valuing the mining assets in accordance to Chapter 18 of the Hong Kong Exchange listing rules as well as the Australian VALMIN code. Censere was responsible for analyzing the technical report of the mine, modelling the financial performance of the mining assets, as well as handling questions and queries from the stock exchange. Details of the transaction as well as Censere’s report can be found here:

http://www.chinamoly.com/06invest/DOC/E-CMOC-C049-1025%20AP.pdf