re: Ann: FIRB Confirmation for Hanlong Transa... Hanlong Mining's 51 percent investment in Australia's Moly Mines Limited has gained approval from the Australian Foreign Investment Review Board.
The Hanlong Group Board of Directors Representative Liu Han said the approval means the project has made great progress, with all procedures on the Australian side completed. The investment will require final approval from the relevant Chinese authorities.
As soon as it's approved, following a 200 million US dollars investment into Moly Mines' stock, Hanlong will become the controlling shareholder with a 55.3 percent shareholding in the company.
Liu Han added that the annual sales volume is expected to reach 10 billion yuan within three years, with annual profits reaching 2 billion yuan.
Source: http://english.cctv.com/program/bizchina/20091119/101464.shtml
Ann: FIRB Confirmation for Hanlong Transaction , page-33
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)