Monday, July 27, 2009

China expands its grip on the Tungsten Market with recent Acquisition in Mongolia

Bestway International (HKG:0718) has signed an agreement for the acquisition of mining licences for tungsten deposits in Mongolia at a total consideration of $940 million.

Upon completion of the acquisitions, Bestway International will become engaged in mining business of the resources or reserves of tungsten in the two target mines.

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