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Home / Metal News / Yunnan Germanium to Buy Remaining 40% Interest in Coal Company for $11 Mln

Yunnan Germanium to Buy Remaining 40% Interest in Coal Company for $11 Mln

iconMar 25, 2014 15:41
Yunnan Lincang Xinyuan Germanium Industry Co. plans to buy the remaining 40% interest in a germanium-bearing coal mining company for 68.28 million yuan ($11.10 million).

SHANGHAI, Mar. 25 (SMM) – Yunnan Lincang Xinyuan Germanium Industry Co. plans to buy the remaining 40% interest in a germanium-bearing coal mining company for 68.28 million yuan ($11.10 million).

It plans to buy the remaining stake in Lincang Jiucaiba Coal Industry Ltd. from an individual shareholder after having acquired a 60% interest with 78.1 million yuan last year, the company told Shenzhen Stock Exchange on Monday.

After this acquisition, Yunnan Germanium obtains the exploration right to germanium coal reserves of 189,800 tonnes, with the average metal grade being 581.35 grams per tonne, it said.
 

Yunnan Lincang Xinyuan Germanium Industry Co.
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