Western Gold announced on November 8 that it intends to purchase the equities of Akto Kebang Manganese Manufacturing Co., Ltd. (referred to as "Kebang Manganese"), Akto Baiyuanfeng Mining Industry Co., Ltd. (referred to as "Baiyuanfeng"), and Xinjiang Mengxin Tianba Mining Investment Co., Ltd. (referred to as "Mengxin Tianba"), and it will issue shares to qualified investors to raise matching funds.
SHANGHAI, Nov 10 (SMM) – Western Gold announced on November 8 that it intends to purchase the equities of Akto Kebang Manganese Manufacturing Co., Ltd. (referred to as "Kebang Manganese"), Akto Baiyuanfeng Mining Industry Co., Ltd. (referred to as "Baiyuanfeng"), and Xinjiang Mengxin Tianba Mining Investment Co., Ltd. (referred to as "Mengxin Tianba"), and it will issue shares to qualified investors to raise matching funds.
According to the announcement, Baiyuanfeng is mainly engaged in the mining and sales of manganese ore.
Kebang Manganese is mainly engaged in the processing, manufacturing and sales of EMM and manganese ore, the production of ferromanganese alloy products, the sales of manganese-rich slag, and the transportation and warehousing services.
Mengxin Tianba is mainly engaged in mining investment & development, enterprise investment management, mining technology consulting, sales, mineral products, mining machinery &equipment, and leasing.
Western Gold is currently the largest modern gold mining and smelting enterprise in northwest China. It has a complete...
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