On the CMI Homepage they say this:
"CMI Australia is currently restructuring its assets, adding iron ore and other mining assets from China, Australia and Brazil into the company in preparation for listing"
What we all hope is CMI will use CMY as a cheap way to List and back their assets into CMY.
http://www.cmiaustralia.com/
CHINA METALLURGICAL INVESTMENT LTD (?CMI Australia?) is incorporated in New South Wales, Australia, and is part of a group of companies that make up China (Beijing) Metallurgical Investment Co., Ltd. (北京中冶投资有限公司)
(?CMI Beijing?), a large-scale Chinese State-Owned Enterprise (SOE) with diversified investments in mining/mineral assets, real estate, technology, manufacturing and agriculture.
CMI Australia is currently restructuring its assets, adding iron ore and other mining assets from China, Australia and Brazil into the company in preparation for listing.
Its current holdings include, among others, a 3.6 million ton ready stockpile of iron ore from its Brazilian mine, with committed shipments of 1 million tons as early as June 2010, and a 70% interest of a second Brazilian mine, with initial estimates of over 1B tons in reserves.
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