CMC Snaps Up Smelting Supplier

Gold Coast reported that China Magnesium Corporation (ASX:CMC) is acquiring Ningxia Tianjing Tianda Metallurgical Smelting Co.

As quoted in the market news:

The company said the $6 million acquisition was struck at a significant discount to the $15 million replacement cost of the ferrosilicon production facility in China’s Ningxia province.

Click here to read the full Gold Coast report.