Wuhan Steel to invest $57 million in CIMC
By Zhang Qi and Guo Rui | China Daily | Updated: 2011-02-18 08:13
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A worker walks on a steel beam at a construction site for a bridge across the Yellow River near Zhongwei, in the Ningxia Hui autonomous region. Wuhan Iron & Steel Group announced it will invest C$56 million ($57 million) to acquire a stake in a Canadian mining company. Qilai Shen / Bloomberg |
BEIJING - Wuhan Iron & Steel Group, China's third-largest steelmaker, agreed to invest C$56 million ($57 million) in a Canadian mining company Century Iron Mines Corp (CIMC) to acquire a stake and jointly develop iron ore projects, a top executive of CIMC said on Thursday.
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