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Nonferrous Metal Mining Ranked No. 1 Composite Competitiveness

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Mainland highway operator Yue Da Holdings will acquire a metal mining company in Southwest China’s Yunnan Province for 180 million yuan (US$22.5 million) in its bid to diversify into the mining sector.Yue Da will fund the deal with 30 million yuan (US$3.75 million) in cash and 150 million (US$18.75 million) in new shares. The company struck the deal because…

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Infrastructure and toll road operator, Yue Da Holdings (0629), said its cash on hand could increase to 170 million yuan after a 45 million share placement. The stock closed Wednesday at HK$3.90, down 5 HK cents.

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According to the Industries Composite Competitiveness Index compiled by the State Information Centre of the People’s Republic of China (the “PRC”), upstream mining industry is still taking an absolute advantage over the 39 industrial categories. Nonferrous metal mining industry which was ranked third in 2005, took the number one position for the first 11 …

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