China's Anhui Baomei to bid for dolomite mine

摘要

Chinese magnesium alloy producer Anhui Baomei is to bid for the mining rights for a dolomite mine in east China's Anhui province to strengthen feedstock supplies for its magnesium production. The Anhui-based firm is a subsidiary of China's largest magnesium alloy producer Nanjing Yunhai Special Metals, the country's largest automobile steel sheet producer Baosteel Metal and Qingyang County Construction Investment Group, with the first two firms respectively holding 45pc of Baomei. The three parties plan to invest 11.2bn yuan ($1.75bn) in Baomei.