Jinchuan plans to use Albidon for overseas nickel acquisitio

[LesCrozes]

Jinchuan plans to use Albidon for overseas nickel acquisition, report

BEIJING, Jul 26, 2010 (Xinhua via COMTEX) --

China's largest nickel producer Jinchuan Group Co. plans to use Albidon Ltd. to acquire overseas nickel assets, Dow Jones Newswires quoted the Australian miner as saying on Monday.

Jinchuan is the largest shareholder of Albidon, holding a 50.4 percent stake in the latter, which suspended development of its Munali nickel project in Zambia and de-listed from exchanges during the financial crisis.

Albidon now plans to re-list on the Australian Stock Exchange in August and increase its annual nickel concentrates output capacity to 6,500 metric tons (tonnes) by September, its managing director Alasdair Cooke said.

Once this is achieved, Albidon plans to use Jinchuan's strong connections with Chinese banks to move quickly in acquiring nickel assets in Africa and Australia, especially those that Jinchuan has signed purchase-and-supply agreements with or has stakes in, Cooke said.

Jinchuan Group has an annual nickel production capacity of 150,000 tonnes. (Edited by Zhang Yuenan, zhangyuenan@xinhua.org)

[LesCrozes]

La re-cotation d'Albidon est reportée de mois en mois. J'espère pour ZCCM-IH, et accessoirement pour moi, que cette re-cotation va effectivement être réalisée en Août comme dit dans l'article.