Chenzhou Invests 100m Yuan in Local tungsten Miner
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- Category: Tungsten’s News
- Published on Thursday, 20 December 2012 17:54
Chenzhou Mining, China’s second-biggest antimony producer, will invest in a local tungsten miner, the company said on Tuesday December 18.
Chenzhou plans to put a total of 100 million yuan ($15.9 million) into Hunan Xinkuang Mining Group, in the form of loans and investment in a 10% stake in the company, Shenzhen-listed Chenzhou said in a statement.
The investment aims to further enhance Chenzhou’s resources for long-term development, the company said.
Xinkuang currently has resource reserves of 8,045 tonnes of tungsten metal, according to Chenzhou.
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