Guangxi Railway Investment Guangxi Dameng Manganese Industry achieves substantial results on overseas expansion
2017-03-16 14:19:47 【Print】
Two South African manganese mining enterprises PMG and LIDINO, which are Guangxi Dameng Manganese Industry's holding companies, reported a total profit of RMB130 million (USD18
Guangxi Dameng Manganese Industry, led by the "going abroad" strategy, entered overseas manganese ore markets in advance taking advantage of "the belt and road initiative" from the start of 2017, starting the internationalization process . After several years of investigation, Guangxi Dameng Manganese chose to control two South African manganese mining enterprises PMG and LIDINO through joint venture amid depressed global economic and relatively low mineral resources prices . PMG has two mining rights in South Africa with reserves of 142 million tonnes while LIDINO has one mining right with reserves of 137 million tonnes . By holding above two companies, Guangxi Dameng Manganese Industry has realized strategic target of reserving more high-quality manganese ore resources.
. 86 million) in 2016 by producing 1 million tonnes of manganese concentrate in all, achieving a huge leap during the internationalization process . Guangxi Dameng Manganese Industry who had suffered losses for four consecutive years started to see profits of RMB40 million (USD5 . 80 million) in 2016.
50% EXW Zambia
China's manganese ore import volume statistics by major country by month