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Home / Metal News / Newssummary: China Hongqiao to Buy Guinea Bauxite Company for $120 Million

Newssummary: China Hongqiao to Buy Guinea Bauxite Company for $120 Million

Jun 4, 2014 10:40

Source:SMM

China Hongqiao Group Ltd. agreed to buy a company developing bauxite deposits (resource base: 2.2 billion tonnes) in Guinea, Africa for $120 million, aastocks.com reported today.

SHANGHAI, Jun. 4 (SMM) – China Hongqiao Group Ltd. agreed to buy a company developing bauxite deposits (resource base: 2.2 billion tonnes) in Guinea, Africa for $120 million, aastocks.com reported today.

China Hongqiao and Winning Logistics (Africa) Co. reached an accord to buy this unidentified company, and Hongqiao will have a 90% stake in the target company and Winning will hold the rest 10%, it added.

China Hongqiao Group Ltd.

Chinese news summary

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