Keangnam Sells Madagascar Nickel Mine Stake for 35.1 Billion Won -Shanghai Metals Market

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Keangnam Sells Madagascar Nickel Mine Stake for 35.1 Billion Won

Industry News 04:43:44PM Mar 10, 2010 Source:SMM

March 10 (Bloomberg) -- Keangnam Enterprises Ltd., a South Korean builder, agreed to sell stake in a Madagascar nickel mine to state-run Korea Resources Corp. for 35.1 billion won ($31 million).

Keangnam's stake in the Ambatovy project will fall to 1.25 percent from 2.75 percent after the sale, according to a regulatory filing today.
 

Keangnam Sells Madagascar Nickel Mine Stake for 35.1 Billion Won

Industry News 04:43:44PM Mar 10, 2010 Source:SMM

March 10 (Bloomberg) -- Keangnam Enterprises Ltd., a South Korean builder, agreed to sell stake in a Madagascar nickel mine to state-run Korea Resources Corp. for 35.1 billion won ($31 million).

Keangnam's stake in the Ambatovy project will fall to 1.25 percent from 2.75 percent after the sale, according to a regulatory filing today.