MCC to invest in Australian mine
Post Date: 05 Feb 2010 Viewed: 595
Metallurgical Corporation of China (MCC) said in a statement that it planned to acquire a 5 percent stake in Australian mining company Resourcehouse Limited. MCC would invest 200 million U.S. dollars in Resourcehouse. Besides the 5-percent stake, the investment would also enable MCC to undertake engineering, procurement and construction work on a Resourecehouse coal mine project in Queensland, and receive a 4-percent commission from the annual sales of 30 million tonnes of coal, said the statement. The Australian company was expected to be listed at the Hong Kong Stock Exchange in 2010, according to the statement.