Jinduicheng Molybdenum Co Limited has finished its purchase for 65% shares of the Ruyang subsidiary of its controlling shareholder Jinduicheng Molybdenum Group Co Limited.

Earlier in 2007, Jinduicheng Molybdenum Co Limited signed a share transfer agreement with its controlling shareholder JDCMMC to buy 65% shares of JDCMMC's Ruyang subsidiary in central China's Henan province.

Jinduicheng Molybdenum Co Limited paid the remaining CNY 316.6887 million according to the agreement.

JDCMMC is the biggest complex of molybdenum mining, dressing, smelting, processing, research and trade in Asia, as well as the leading company of China's molybdenum industry.