Rising Nonferrous Metals Secures Approval for Corporate Bond Offering

SHANGHAI, Jun. 17 (SMM) – China Securities Regulatory Commission has approved Rising Nonferrous Metal Co.’s application for issuing corporate bonds publicly, the company told Shanghai Stock Exchange today.

Rising Nonferrous Metals is established by Guangdong Rising Assets Management Co. and engaged in nonferrous metal mining, smelting, research, trading and warehousing. The company is also among the few firms in Guangdong that has secured permit for rare earth mining.

Rising Nonferrous Metals registered a net loss of 78.72 million yuan ($12.90 million) in the 2013 fiscal year, compared with a net profit of 60.42 million yuan a year earlier.