Jiangxi Copper Investment Company Limited (0358.HK) on Wednesday announced that it has received Chinese outbound direct investment approval for its proposed acquisition of SolGold, clearing a key regulatory milestone.
Jiangxi, an international investment arm of Jiangxi Copper Company, has been a SolGold shareholder since December 2022 and currently holds about 12.2 percent of the company following a March 2025 share acquisition.
The transaction is expected to be implemented via a court-approved scheme of arrangement and is targeted to complete in the first quarter of 2026, subject to shareholder and court approvals.
SolGold's board has unanimously recommended the deal, citing progress at its flagship Cascabel copper-gold project in Ecuador.
Jiangxi closed Wednesday's trading at HK$37.240, up HK$0.240 or 0.65 percent on the Hong Kong Stock Exchange.
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