Sinosteel buys S. Africa's chrome mine with 200 million dollars

摘要

Sinosteel Corporation yesterday announced that the company has signed an agreement with Samancor Chrome in South Africa, to acquire its chrome mine and 50 percent share of the ferro-chrome smelter with more than 200 million US dollars. The business was finally dealt during Forum on China-Africa Corporation (FOCAC) in Beijing, and now it is waiting for approval from National Development and Reform Commission. It is reported that the two parties concerned will jointly establish a company named Tubatse Chrome that consists of a small-scaled chrome mine and 5 smelting furnaces producing charging high-carbon ferrochrome. The company is expected to produce 280,000tpy of ferrochrome.