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DashboardDatabaseProReportsEventsConsultingSHANGHAI, Dec. 3 (SMM) - China Molybdenum Co. completed purchase of an 80% interest in Australia’s Northparkes Joint Venture for $800.22 million.
The transaction was completed on Dec. 1, it told Shanghai Stock Exchange today.
China Molybdenum embarked on the purchase to diversify into copper and gold production as Northparkes has a copper and gold mine in Parkes, New South Wales in Australia, it said earlier.
China Molybdenum is the world’s fourth-largest producer of molybdenum and the second-largest producer of tungsten concentrate.
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