Nanjing Yunhai Acquires Magnesium Assets in Anhui
2010-06-07
Nanjing Yunhai Special Metals Co Ltd recently announced that it has spent RMB 48.06 million to acquire exploration rights on a mine, located in Chaohu, Anhui Province with abundant in magnesium and dolomite.
The mine, which has estimated reserves of 49.15 million tons of magnesium and 3.97 million tons of dolomite, is expected to provide the materials of magnesium for an existing project that will produce 100,000 tons of magnesium alloys per year.
Last month the company announced plans to invest RMB 48.55 million in an aluminum alloy recycling project that will have an annual output of 50,000 tons of aluminum alloys.
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