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Chinese and Canadian companies signed nickel JV
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Canadian Chemical Vapour Metal Refining Inc (CVMR) has signed a joint venture agreement with two Northeastern Chinese companies. The companies are Jilin Nickel Industry Group owner of China's largest nickel production base and the second largest molybdenum ore resources in Asia and the Guangdong Huachuang Group, a major supplier of China’s nickel and electro-plating chemical materials. The new company will focus on the non-ferrous metal in China’s Jilin Province. It is expected to have an annual output of 6,000 tons of hydroxy nickel, 50, 000 tons of nickel sulfate and 2, 000 tons hydroxy Fe. CVMR and Huachuang group will invest US$8.40 million to reform Jilin Nickel Industry Group. New company is estimated to reach asset of US$39.51 million after reorganization. (Dec. 14)
News Date
12/14/2005 1:45:22 PM
reported by
Yuki Cheng
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