China Nonferrous Clears FIRB Hurdle for Terramin Deal
06-03 11:44 Caijing
» State-owned China Nonferrous Metal Industry's Foreign Engineering and Construction Co. said Australia's Foreign Investment Review Board has approved its plan to buy an 11.2 percent stake in base metals miner Terramin Australia Ltd.
» The company agreed last March to buy 15.5 million new shares, or 11.2 percent, of Terramin at A$0.65 apiece, which would make it the Australian miner's second largest shareholder.
» If approved by China's commerce ministry, the purchase would give China Nonferrous a seat on the Australian company's board, while giving Terramin access to financing from Chinese banks.
From wires
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[ICP License: 090027] IDC License:[B2-20040250] Advertising Business License:[京海工商广字第0407号] 京公网安备110105005607号
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