China-Kinwa Continue to Acquire Dechang Thick Rare Earth

China-Kinwa ongoing with self-raised funds of 950 million yuan directly acquired 100% Dechang Thick Rare Earth is still in progress. The bid has been ongoing since 2013.

If the bid is completed, China-Kinwa is expected to complete the important step on the new energy industry chain.

After the release of public information, the acquiree guarantee Xichang under Dechang thick earth can have mine holds the reserves of not less than 600000 tons of rare earth metals, mine in 2013 approved by the state mining amount not less than 10000 tons.

At present, the company asset acquisition related assessment and audit work continues, and the latest progress of geological report matters related preparation work has finished. At the same time, the geological material has been sent to the Audit Center Department of land and resources of Sichuan and has been accepted. The review work is being carried out, through the review, the review center can be sent to land evaluation opinions Department of Sichuan province mineral resources reserves are reserves for work. Audit approach to carry out the work and obtain most of the materials added missing data; evaluation of auxiliary work has been completed, then the report issued by the assessment report after the completion of the record of geological reserves. Flotation production line construction work has been completed, the ongoing flotation production test of the production line.

Analysis of a long-term interest in China­­­-kinwa said that, China-kinwa had promising prospects about rare earth resources of its development prospects of, what’s more, rare earth resources are a very important part of the new energy industry chain  of the company in recent years. And rare earth resources are scarce, the company will not give up easily, acquisition and integration of industrial chain to be in China-kinwa is most urgent desire to complete as soon as possible. With the national policy on rare earth frequent positive, if the acquisition is completed, China-kinwa will have a significant impact on the business performance.

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