TD Holdings, Inc. and Achieve Prosper Limited to Establish Joint Venture in Lombok, Indonesia for Mining Three Local Large Gold Deposits
TD Holdings, Inc. (GLG)
Company Research
Source: PR Newswire
Aims to fuel business growth and increase profitability through exploring mineral resources.SHENZHEN, China, May 30, 2023 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced that it has signed a partnership agreement (the "Agreement") with Achieve Prosper Limited("AP"), the owner of high-quality gold mines in the Republic of Indonesia ("Indonesia"), to establish a joint venture (the "JV") in Lombok, Indonesia for mining three local large gold deposits. As part of the Company's globalization initiative, the JV marks the Company's stepping into the gold mining industry in Indonesia and is expected to position the Company well to integrate upstream mineral resources to fuel its long-term business growth and increase profitability.Pursuant to the Agreement, the JV will engage in exploring, extracting, beneficiating, and selling the gold deposits. The Company, AP and local cooperative community will own 80%, 10%,
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