Eurasian Natural Resources Corp Plc. said it has bought a 50 percent stake in Chinese ferroalloy producer Xinjiang Tuoli Taihang Ferro-Alloy Co. Ltd, for about $14.5 million in cash.
Xinjiang Tuoli Taihang Ferro-Alloy is one of China's largest ferrochrome plants with an annual capacity of 120,000 tonnes of high carbon ferrochrome. ENRC currently supplies the plant with 70 percent of its chrome ore.
Source: Hemscott
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