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China's MCC to invest in Aussie mining company
(Xinhua)
Updated: 2010-02-03 16:02
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BEIJING: Metallurgical Corporation of China Limited (MCC), one of the world's biggest engineering contractors, said Wednesday that it planned to acquire a 5-percent stake in Australian mining company Resourcehouse Limited.
In a statement to the Shanghai Stock Exchange, MCC said it would invest $200 million in Resourcehouse.
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MCC said the investment plan still needs to be approved by governments from both sides and Resourcehouse's shareholders.
Shares in MCC on Wednesday opened at 4.88 yuan (70 cents), up 0.2 percent from the previous closing. It closed at 4.85 per yuan at midday, down 0.4 percent from the previous close.
