Chinese to purchase majority stake of Ontario's Liberty Mines
Published: 16 Apr 2009 01:20:08 PSTApr.16 MetalBiz-- Jilin Ji En Nickel Industry Co., China's fifth largest manufacturer of the metal, will pay $30mln (US$24mln) for a 51% stake in Mississauga, Ontario-based Liberty Mines Inc. to secure raw resources.
Besides, around C$20mln owed to Ji En by Liberty will be paid in cash or nickel concentrate as part of an agreement approved by both companies' boards, Panshi, Jilin province-based Ji En stated in a filing to the Shanghai stock exchange on April, 15.
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