Metalnewsnet 16 Mar:

Aluminum Corporation of China (Chinalco) has signed a cooperation agreement with the Jiangxi provincial government on March 13 to acquire a controlling stake in Jiangxi Rare Earth & Rare Metals Tungsten Group (JXTC) and help in the listing of the latter, reports Oriental Morning Post.

According to the agreement, Aluminum Corporation of China will acquire the stake either through a capital injection, acquisition of the stake outright or by investing in its projects.

JXTC, a leading producer of tungsten and raw earth, wholly-owns or controls 12 mines. It controls more than three million tons of reserves of non-ferrous metals. Annual tungsten refining capacity totals 30,000 tons.

Source: Capital Value News

Editor: KylinTse