China’s NDRC approvaled of Australia molybdenum mine investment proposals
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- Category: Molybdenum's News
- Published on 25 March 2013
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Australia the molybdenum ore Ltd. (Moly Mines) said that the the Hanlong Mining its $ 200 million equity and debt investment plan has been approved by the Chinese side.
China Development and Reform Commission has formally notified Hanlong has approved the completion of the acquisition of the equity interest of Australia and molybdenum mine.
According to the agreement announced on October 19, 2009, Hanlong will be $ 140 million acquisition of Australia molybdenum ore 207,100,000 shares, equivalent to A $ 0.747 per share at the exchange rate of $ 0.9048.Australia and molybdenum mine, said in a statement that the investment is now also require the approval of the Chinese Ministry of Commerce and the State Administration of Foreign Exchange.
Australia molybdenum mine, Hanlong and Chinese domestic banks in the negotiations, hoping to secure a loan of U.S. $ 500 million for the Spinifex Ridge Molybdenum Project.
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