Aspire International, Inc's wholly owned subsidiary Aspire GuangXi announced today that the Company has received the approval of a business licence from the Chinese Government.
The business licence received from the Chinese Government covers investment, exploration, mining and trading of natural resources, base metal and raw materials. Aspire GuangXi Inc. is registered as a Wholly Owned Foreign Enterprise (WOFE) in China. The registered capital is 1.13 million U.S. dollars.
The first project involved is the GuangXi FangCheng PingWang NaWang Manganese mining property. The mining site consists of 3.19 KM2 with a daily production capacity of 100 tons. With manganese ore currently priced at around US$240 per tons, the projected revenue will be 8 million U.S. dollars per year.
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