6 May : Yunnan Metallurgical Group and Baosteel inks strategic JV agreement

China Securities Journal reported that Yunnan Metallurgical Group has lately signed a strategic cooperation agreement with Baosteel Resources in Kunming, indicating that the latter would be the second largest shareholder of Yunan Metallurgical Group Dounan Manganese Company by acquiring 12% stakes.

The main purpose of the move is to promote overseas mineral resources development through the combination of Baosteel overseas advantageous and Dounan Manganese resources in the sectors of geological exploration, mine development and etc. Besides, they also decided to purchase long-term collaboration in the exploration of overseas manganese and steel-smelting advantages.

Now, Baosteel Resources are vigorously expanding manganese industrial business chains. In the end of last year, it has acquired nearly 10% stakes of Jiangxi Yongsheng Mining and Management Co Ltd.

(from China Securities Journal)

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Article: 6 May : Yunnan Metallurgical Group and Baosteel inks strategic JV agreement
Keywords: Home - Vanadium - Vanadium-Nitrogen
Channel: Metal - News
Posted: 2010-5-6 8:55:08 by Metalnewsnet
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6 May : Yunnan Metallurgical Group and Baosteel inks strategic JV agreement

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