28.5 C
Mining News

Chifeng Jilong and Xiamen Tungsten joint venture secures control of Laos rare earth mining project

A joint venture between Chifeng Jilong Gold Mining and Xiamen Tungsten is set to acquire a controlling stake in China Investment Mining Laos Sole, which holds an 86% stake in a rare earth mining development project in Laos.

The joint venture, known as Chixia Laos Holding, will invest $19 million to purchase a 90% stake in China Investment Mining Laos Sole. The Mengkang project in Laos is currently undergoing infrastructure construction and is expected to begin production soon after the takeover. The project is designed to mine 3,675 tons of mixed rare earth oxides annually.

Supported by

Related posts

Heraeus Acquires McCol Metals to boost precious metals recycling capabilities

David Lazarevic

Earth Thrive: Has Rio Tinto initiated arbitration over the Jadar project?

Rio Tinto initiates arbitration against Serbian government over Jadar project

David Lazarevic
error: Content is protected !!