China Northern Rare Earth: Magnets company's payment of RMB69.73 million expected to be retrieved

China Northern Rare Earth announced on late November 15th that purchase and sale contract dispute has ended by arbitration between its holding subsidiary company of Magnets company (the applicant) and Hengde Magnetic.Asian Metal Copyright The arbitration tribunal supported arbitration request that Magnets company required Hengde Magnetic to pay RMB69.Asian Metal Copyright The arbitration tribunal supported arbitration request that Magnets company required Hengde Magnetic to pay RMB69.Asian Metal Copyright59 million of overdue interest.Asian Metal Copyright73 million of overdue payment adding RMB6.Asian Metal Copyright73 million of overdue payment adding RMB6.Asian Metal Copyright59 million of overdue interest.Asian Metal Copyright .Asian Metal Copyright As of December 31, 2016, the company has classified the receivables as bad debts.Asian Metal Copyright73 million of overdue payment adding RMB6.Asian Metal Copyright If Hengde Magnetic can fulfill the obligations as scheduled, the company's profit will be increase.

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