Moderator: Gavin Wendt, Minelife. Panelists: James Marlay, BRR Media; Rimas Kairaitis, YTC Resources; Trangie Johnston, KBL Mining Limited.

KBL Mining reports the Mineral Hill Mine has achieved sustained concentrate production, process plant feed rate achieving 16% above design and first production stope outperforms on copper grade.

KBL Executive Chairman, Jim Wall interviewed by James Daggar-Nickson, Sky Business News for Market Day, 17 January 2012

Guangdong Guangxin Mining Resource Group has agreed to pay $80 million for a 25 per cent stake in ASX-listed copper producer KBL Mining’s Mineral Hill copper and metals project.

Chinese trader Guangdong Guangxin Holdings has signed an $89 million deal to boost its interests in Australian base metals by buying a quarter of the Mineral Hill copper and goldmine in NSW and a 15 per cent stake in mine owner KBL Mining.

Investors sent KBL Mining shares up 17 percent to close at A27 cents yesterday after news broke that the company had sold a 15 percent stake to foreign trader Guangdong Guangxin Holdings.

Chinese state owned GMR has signed a deal to buy 25 per cent of KBL Mining Limited’s (ASX:KBL) Mineral Hill Mine and Iron Duke project for $80 million.

INVESTORS have smiled on KBL Mining today after it announced Guangdong Guangxin Mining Resource Group will fork out $A80 million for a 25% stake in the Mineral Hill project in Central Western New South Wales.

KBL is selling a 25 per cent stake in its central New South Wales copper project to Chinese company Guangdong Guangxin for $80 million.

KBL Mining jumped 17 per cent to 27 cents after lining up Chinese state-owned Guangdong Guangxin Mining Resource Group to buy a 15 per cent equity stake in the company and a 25 per cent stake in its Mineral Hill copper and gold mine.