Xinjiang Xinxin Mining Co., Ltd. (the “Company”) was registered as a limited company in the People's Republic of China (“China”) with approval from the People's Government of the Xinjiang Uygur Autonomous Region on September 1, 2005, with the approval of the People's Government of Xinjiang Uygur Autonomous Region (“China”), with Xinjiang Nonferrous Metals Industry (Group) Co., Ltd. (“Shanghai Yilian”), CICC Investment (Group) Co., Ltd. (“CICC”), Zijin Mining Group (Xiamen) Investment Co., Ltd., Xinjiang Xinying New Materials Co., Ltd., and Shaanxi Honghao Industrial Co., Ltd. (“China”) as founders (collectively, the “sponsor”) is established by means of initiation.
The sponsor holds a total of 1,451,000,000 domestic shares of the company. In October 2007, 759,000,000 H shares of the Company were listed on the Stock Exchange of Hong Kong Limited (the “Stock Exchange”). The company is the first electrolytic nickel manufacturer listed outside of China.
On March 9, 2016, Shaanxi Honghao Industrial Co., Ltd. transferred all of its 6,272,000 domestic shares held by Shaanxi Guangyou Industrial Co., Ltd. to Shaanxi Guangyou Trading Co., Ltd. through an agreed transfer. Since then, Shaanxi Guangyou Trading Co., Ltd. has held 6,272,000 domestic shares of the Company.
The Company and its subsidiaries (the “Group”) are the second largest producer of electrolytic nickel using nickel sulfide resources in China. They are mainly engaged in mining, mineral processing, smelting, refining and sales of nickel, copper and other non-ferrous metals. The Group's main product is electrolytic nickel, and the secondary product is cathode copper. Other products, including cobalt products, gold, silver, platinum and palladium, are also produced during the production of the Group's main products.
In addition to the Keratonk nickel and copper mines owned by the Company when it was established, the Company acquired three nickel and copper mines in Huangshan, Huangshan and Xiangshan in Hami City, Xinjiang in 2009. The Company owns 100% of the above four nickel and copper mines.
The company acquired 51% of the shares of Shaanxi Xinxin Mining Co., Ltd. (“Shaanxi Xinxin”) in 2011. Shaanxi Xinxin owns two vanadium mines on Xianghe Street and Mujiahe located in Shangnan County, Shaanxi, and the company owns 51% of the vanadium mines in Xianghe Street and Mujiahe. As of December 31, 2021, the two vanadium mines on Xianghe Street and Mujiahe are still in the resource exploration stage, and no mining activities have been carried out.