# Zijin Mining to acquire majority stake in East Africa Metals' Harvest Project

East Africa Metals reached a non-binding letter of intent with Zijin Mining for Zijin to acquire a 55% interest in the Harvest Project in Ethiopia for a cash payment of US$900,000, and to fund development and operation of the Terakimti Oxide Mine.

- Type: Acquisition
- Announced: 2021-07-23
- Where: Tigray National Regional State, Ethiopia, Ethiopia
- Value: $900K
- Status: announced
- Products: gold, mineral resources
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Zijin Mining Group](https://endata.com/companies/44113.md) (acquirer)
- [East Africa Metals Inc.](https://endata.com/companies/45459.md) (target)

## Sources

- [br.advfn.com](https://br.advfn.com/noticias/PRNCA/2021/artigo/85659406), 2021-07-23: "Zijin will acquire 55% interest in the Harvest Project by making a cash payment of US$900,000, developing and operating the Terakimti Oxide Mine and funding 100% of TEHI's obligations related to the development and operation of the Harvest Project."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.