SHANGHAI, Jan. 9 (SMM) – Yunnan Aluminium Co. is planning to acquire 51% stake in Sino Lao Aluminum Corporation Limited (SLACO) for $ 28.05 million via new subsidiary, Yunnan Aluminum International Company., Ltd. (YALICO), it said in a statement filed to the Shenzhen Stock Exchange today.
After the deal is completed, YALICO will develop bauxite resources across 147.86 square kilometers on the Bolaven plateau in southern Laos, and build 1 million-tpy alumina refinery as well as 3 million-tpy bauxite mine, it added.
SLACO holds mining rights to bauxite resources over an area that stretches 147.86 square kilometers in Laos’ southern Champasak Province. The company’s prospecting – conducted in two stages – over this area found approximately 140 million tonnes of bauxite (gibbsite) reserves, with an average grade of 39.13% in stage one and 41.31% in stage two, with Al-Si ratio at 8.47 in stage one and 9.51 in stage two. Bauxite in the region outperforms that in China in quality, which helps reduce costs for bauxite mining and alumina refining, it said
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.