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Article: Sinosteel acquires Chifeng Jinxin's Jiguanshan copper-molybdenum mine in Inner Mongolia.
- Article from:
- China Business News
- Article date:
- June 13, 2007
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Sinosteel acquires Chifeng Jinxin's Jiguanshan copper-molybdenum mine in Inner Mongolia
Shanghai. June 13. INTERFAX-CHINA - Beijing-based Sinosteel Group, one of the largest state-owned iron ore and steel product traders in China, entered into an agreement with Chifeng Jinxin Mining Co. Ltd. last week to purchase the Jiguanshan copper-molybdenum mine in Inner Mongolia, a Sinosteel official told Interfax today.
According to the agreement, Sinosteel will purchase a 60 percent stake in Chifeng Jinxin and further develop the mine to achieve an annual production capacity of 4,000 tons of molybdenum concentrate by 2009, a Sinosteel official, surnamed Li, said. ...