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Article: Dongbei Special Steel purchases controlling stake in molybdenum miner.
- Article from:
- China Business News
- Article date:
- August 17, 2009
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Dongbei Special Steel purchases controlling stake in molybdenum miner
Shanghai. August 17. INTERFAX-CHINA - Dongbei Special Steel Group Co.
Ltd., a large state-owned domestic special steel producer, recently purchased a 60 percent stake in Linxi Jinyu Mining Co. Ltd., a molybdenum miner located in Linxi county of northern China's Inner Mongolia Autonomous Region, state media reported on Aug. 15.
Dongbei Special Steel acquired the stake in order to ensure raw material supply and reduce production costs, Xinhua news agency reported.
It plans to build a ferro-molybdenum production facility at the miner's current location, which will have ...