It is reported that Qinghai Province-based Chinese special steel producer Xining Special Steel Co has signed an agreement to establish a joint venture named Xigang Yemaquan Mines Development Co with Qinghai No. 3 Geology & Mineral Resources Exploration & Development Bureau, while it has also signed an agreement to set up another joint venture named Xigang Tawenchahanxi Mines Development Co with Qinghai No. 4 Geology & Mineral Resources Exploration & Development Bureau.

Accordingly, the registered capitals of the new JVs are both CNY 10 million. Xining Special Steel will invest CNY 8.5 million respectively in both Xigang Yemaquan Mines and Xigang Tawenchahanxi Mines and will thus hold an 85% stake in each joint venture.

(Sourced from Steel Orbis)
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