It is reported that Jiangxi enterprises "going out" growing pace, Fangda Special Steel Technology Co., Ltd. acquired the Republic of South Africa (Private) Limited options and exploration investment project has been approved by the Development and Reform Commission departments in our province BOBOKO investment, squareSteel Technology Co., Ltd.
(hereinafter referred to as "square steel") plans to invest $ 3,000,000 acquisition BOBOKO company a 74 percent stake in its two prospecting, and invest $ 25 million on the Mokopane iron ore and the Phalaborwa copper exploration.
It is understood, copper, iron ore, a key national support offshore exploration and exploitation of minerals. The project belongs to the overseas investment projects of resource development, in line with the national "going out" strategy direction. The province agreed in principle to Fangda Special Steel Technology Co., Ltd. to acquire South Africa BOBOKO Investment (Private) Limited options and exploration projects.
This reporter has learned BOBOKO Investment (Private) Limited (hereinafter referred to as "BOBOKO Company") have the Mokopane Iron Ore (LP1388PR) and Phalaborwa copper (LP1353PR,) the exploration of the two mines in South Africa, two mining area covers an area of ??11762 hectares and 8228 hectares. Fangda Special Steel Technology Co., Ltd. plans to invest $ 3,000,000 to acquisition BOBOKO 74% stake in its two prospecting, and invest $ 25 million exploration Mokopane iron ore and the Phalaborwa copper mine.
Jiangxi Province Development and Reform Commission disclosed that the total project investment of $ 28 million, all cash. Project funding application to purchase foreign exchange to solve its own funds by the party big steel.
Some experts said that this year China Energy and Mineral overseas mergers and acquisitions will become more frequent. European debt crisis and the downturn in the global economic environment, many high-quality value of the project was underestimated, the next two years, energy and mining will still be the main target of foreign acquisitions of Chinese enterprises.
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