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Home / Metal News / China Molybdenum Completes Purchase of 80% Interest in Northparkes for $800 Mln

China Molybdenum Completes Purchase of 80% Interest in Northparkes for $800 Mln

iconDec 3, 2013 10:21
Source:SMM
China Molybdenum Co. completed purchase of an 80% interest in Australia’s Northparkes Joint Venture for $800.22 million.

SHANGHAI, 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.


 

China Molybdenum Co.
Northparkes Joint Venture

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