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English > Industry > Industry-Breaking News>Guangdong Rising Approved to Buy Australian Miner

Guangdong Rising Approved to Buy Australian Miner

07-02 14:01 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-07-01/110191770.html

» The Australian Foreign Investment Review Board has allowed China's Guangdong Rising Assets Management to acquire a 19.9 percent stake in Australian copper-gold miner PanAust Ltd.
» Guangdong Rising plans to pay US$ 140 million for 460 million new shares of PanAust. A subsidiary of Guangdong Rising, Zhongjin Lingnan Nonfemet Co., had earlier invested in Australia's zinc producer Perilya Ltd.
» The deal is still pending approval from the Chinese government and PanAust's shareholders.
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