Construction: Yue Da buys iron, zinc miner
(Shenzhen Daily)
Updated: 2006-09-27 15:55
Chinese toll road and infrastructure investor Yue Da Holdings Ltd. said
yesterday that it had agreed to pay 250 million yuan for a metal mining firm in
China's southwestern province of Yunnan to tap rising metal prices. It will buy
Fly Ascent Group Ltd., which is engaged in the mining and sales of zinc and iron
ores, from Feilong Holdings Ltd., the company said in a statement. Fly Ascent
has mining rights for Tenchong Mining Site, which has rich iron and zinc
reserves in Yunnan Province. (For more biz stories, please visit Industry Updates)
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