In February 2015, HSC launched a tender offer for Village Main Reef Ltd. a mining company listed on Johannesburg Exchange in South Africa since 1934. Privatization of VMR from JSE was consummated on June, 2015. This is the first successful case of a Chinese private equity company privatizing a JSE-listed company.

VMR's main business is the development and investment of minerals, including two gold mines (one in operation phase, another in the maintenance phase) with total amount of gold resources about 1124 tons; a platinum mine with the amount of platinum resources about 1213 tons, which is one of the world's largest single platinum mine; and an antimony mine with antimony resources amounted to 208,000 tons, which is one of the largest antimony ore in China. The value of the above-mentioned ore resources is over 300 billion RMB.