Lead Investing News » Minmetals to buy stake in Hunan Nonferrous Group

Minmetals to buy stake in Hunan Nonferrous Group

November 17, 2009 @ 2:51 pm In Lead Market News

On Saturday, China's biggest base metals trader, Minmetals CHMIN.UL, is expected to buy a stake in the Hunan Nonferrous Group (2626.HK) soon. To add, provincial government of Hunan, in central China, was strongly backing the deal.

The news article is quoted as saying:

In September 2008, Minmetals signed a strategic cooperation pact with Hunan Nonferrous, giving it the option to acquire a 40 percent stake in the company, the owner of China's biggest zinc producer, Zhuzhou Smelter (600961.SS).

Click here to access the entire press release ^[1]

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[1] Click here to access the entire press release: http://www.reuters.com/article/industrialsSector/idUSPEK16614620091114