Shirpur Gold Refinery’s wholly owned subsidiary - Zee Gold DMCC, Dubai (Zee Gold) has completed the acquisition of 70% of the shareholding rights of MEAM for consideration of $6.86 million and consequent upon above acquisition by Zee Gold, MEAM became the step down subsidiary of the company.
Last year in December, the company had received its board’s approval for acquisition of 70% in Metalli Exploration and Mining, Mali. The board had granted approval to its wholly owned subsidiary, Zee Gold DMCC, for acquisition of 70 percent of shareholding rights of Metalli Exploration and Mining, Mali for gold mines located in Mali.
Shirpur Gold Refinery is engaged in the business of manufacturing and trading of gold bars, gold coins, gold jewelry and export of gold jewelry. The company is also engaged in the business of refining, manufacturing and marketing of precious metals.
