Xiamen Tungsten to participate in the establishment of new material fund
2020-12-10 15:57:57 [Print]
Xiamen Tungsten announced on the evening of December 9 that Xiamen Tungsten Investment Co., Ltd., a wholly-owned subsidiary of the company, intends to invest RMB980 million (USD149.34 million) to establish a joint venture, Xiamen Tungsten Chuangxin (Xiamen) Investment Partnership (tentative name, subject to the registration by the Market Supervision Administration), with Xiamen Jinyuan Investment Group Co., Ltd.
Xiamen Chuanghe Luxiang Investment Management Co., Ltd., a subsidiary of the company, and other companies jointly initiated the establishment of Chuanghe Manufacturing Transformation and Upgrading New Material Fund (Limited Partnership) (tentative name, subject to the registration by the Market Supervision Administration). Among them, Xiamen Chuanghe Luxiang intends to be the general partner and fund manager of this fund, and the remaining participants are limited partners. The scale of the fund is RMB5 billion (USD761.95 million). It is mainly positioned in the field of new materials, focusing on investing in tungsten and molybdenum, rare earth and new energy materials and upstream and downstream of the industrial chain.
Xiamen Chuanghe Luxiang Investment Management Co., Ltd., a subsidiary of the company, and other companies jointly initiated the establishment of Chuanghe Manufacturing Transformation and Upgrading New Material Fund (Limited Partnership) (tentative name, subject to the registration by the Market Supervision Administration). Among them, Xiamen Chuanghe Luxiang intends to be the general partner and fund manager of this fund, and the remaining participants are limited partners. The scale of the fund is RMB5 billion (USD761.95 million). It is mainly positioned in the field of new materials, focusing on investing in tungsten and molybdenum, rare earth and new energy materials and upstream and downstream of the industrial chain.
Tungsten Oxide WO3 99.95%min FOB China
Unit:USD/mtu
China tungsten concentrate producers' suspension number statistics by province by month
Unit: pcs
