Wisco buys additional shares in CLM
Updated: 2009-09-27 10:24
Wisco Minerals has bought 6.53 million ordinary shares or 20 percent of the total newly issued by CLM for C$28.75 million, solidifying its status as the Canadian mineral company's biggest shareholder in the wake of subscribing 19.99 percent of shares in CLM on July 20. Around C$144 million raised this time will be used to purchase assets in Wabush Mining, next to Bloom Lake deposit now jointly developed by Wisco and CLM, and including facilities for mining and dressing, pellet production, railways, ports and power stations. On completion, Bloom Lake will be able to increase its output swiftly by using infrastructure in Wabush....
The full text is available in the October Issue ofChina Steel. Please visit E-shop（http://eshop.chinadaily.com.cn/）for more subscription details.