Global Ferronickel to take 20% stake in Chinese ore processor
2021-05-25 13:50:47 [Print]
The board of Philippines-based Global Ferronickel Holdings, Inc. (FNI) has approved the acquisition of a 20% interest in China's Guangdong Century Tsingshan Nickel Industry Co., Ltd. (GCTN).
the company said its board considered the proposal of the management to obtain interest in GCTN as part of the effort to "enhance synergy" between FNI as an ore supplier and GCTN as a value-added processor.
However, FNI did not provide details or figures on its planned acquisition in the stock exchange disclosure.
"Due disclosure will be made once terms and conditions are finalized and definitive agreements are executed," the company said.
the company said its board considered the proposal of the management to obtain interest in GCTN as part of the effort to "enhance synergy" between FNI as an ore supplier and GCTN as a value-added processor.
However, FNI did not provide details or figures on its planned acquisition in the stock exchange disclosure.
"Due disclosure will be made once terms and conditions are finalized and definitive agreements are executed," the company said.
Nickel Ore Philippine 1.5%min CIF China
Unit:USD/mt
China nickel sulfate producers' inventory statistics by province by month
Unit: mt
