China Minmetals Rare Earth: to acquire a RE exploration company owned by the actual controller at RMB313 million
2016-12-19 16:06:55 [Print]
China Minmetals Rare Earth Co., Ltd. made an announcement on the evening of 9 December, claiming that it intends to acquire a 100%-stake in Beijing Huatai Xintuo Geological Exploration Technology Co., Ltd. owned by the actual controller at RMB313 million.
According to the announcement, Huatai Xintuo is a professional operating platform wholly-owned by Minmetals Exploration, carrying out investment, geological exploration, technical advisory and other services for mineral projects such as RE.
A subsidiary which Huatai Xintuo holds a 42%-stock in it owns two exploration rights, Shenggongzhai RE mine and Feitian RE mine in Pingyuan county, Guangdong province, and plans to promote the acquisition of mining rights to these two mines after the completion of the transaction.
* ST Rare Earth stated that the company will obtain mining rights by acquiring equity stakes in those companies which has had mining rights. The transaction target of Huaxia Xintai holds a 42%-stake in Huaxia Jiyuan, who owns two exploring rights.
According to the announcement, Huatai Xintuo is a professional operating platform wholly-owned by Minmetals Exploration, carrying out investment, geological exploration, technical advisory and other services for mineral projects such as RE.
A subsidiary which Huatai Xintuo holds a 42%-stock in it owns two exploration rights, Shenggongzhai RE mine and Feitian RE mine in Pingyuan county, Guangdong province, and plans to promote the acquisition of mining rights to these two mines after the completion of the transaction.
* ST Rare Earth stated that the company will obtain mining rights by acquiring equity stakes in those companies which has had mining rights. The transaction target of Huaxia Xintai holds a 42%-stake in Huaxia Jiyuan, who owns two exploring rights.
