Xinjiang Uyghur autonomous region-based Chinese company Xinjiang Guannong Fruit & Antler Group Co. has announced that it has completed the acquisition of 100 percent of local mining enterprise Yuxin Mining Co. for a consideration of RMB 40 million ($6.15 million).
Yuxin Mining owns the exploration rights of Yishan Gold Mine in Tulufan, Xinjiang. This mine's annual production capacity of iron ore is estimated at 50,000 mt.
Xinjiang Guannong Fruit & Antler Group Co. is mainly engaged in the manufacture, processing and sale of sugar products, cotton products, fruits and vegetables. It is also involved in the storage and transportation of fruit, the development of hydropower and in trading, real estate and mining.