Yunnan Aluminum quickening the pace to develop bauxite resources in Wenshan Prefecture

摘要

Yunnan Aluminum Co., Ltd. announced it determined not to launch "Yunnan Haixin Aluminum Resources Co., Ltd." any longer. Instead, it would acquire Yunnan Wenshan Aluminum Co., Ltd., to speed up development of aluminum resources in Wenshan Prefecture in Yunnan Province and the cost is RMB 16.50 million yuan. At the same time, it will expand capital of Yunnan Ruixin Aluminum Co., Ltd. by injecting fund of no more than RMB 100 million yuan. Yunnan Aluminum bought 44 percent of stake of Yunnan Ruixin Aluminum Co., Ltd. in 2005. In order to secure stable supply of raw materials, 6 shareholders of Yunnan Aluminum used to sign agreement to jointly establish Yunnan Haixin Aluminum Resource Co., Ltd. to develop bauxite resources in Wenshan Prefecture.