Sign in
|
Register
International Edition
Home
Business & Finance
Investing Tools
News
Live Quote:
On
RSS
My Page
|
Contact Us
RSS
Markets
|
Industries
|
Stocks
|
Analysis Reports
|
Expert Ideas
|
World Indices
|
Currencies
|
Commodities
RSS
Company A-Z
|
Stock Screener
|
My Portfolios
|
Streaming Quotes
|
Technical Analysis
RSS
Markets
|
Companies
|
Banking & Finance
|
Economy
|
Real Estate
|
International
Quotes
News
Reports
Investing Tools
Company A-Z
Company Search
Stock Screener
Portfolios
Trigger Alerts
Technical Analysis
Live Terminal
Mobile Tools
Useful Links
My Profile
My Favorites
Sunday, May 19, 2024 6:40:11 PM
-
Markets open
VN-INDEX
1,273.11
+4.33/+0.34%
HNX-INDEX
241.54
+1.53/+0.64%
UPCOM-INDEX
93.07
+0.37/+0.40%
India in talks to buy part of VN tungsten mine
Vietnam News - 2/23/2017 9:33:55 AM
(
0 ratings. You must sign in to rate.
)
Print
|
Add To Favorites
|
Email
|
RSS
India’s state-owned mining enterprise, National Mineral Development Corporation (NMDC), is in talks with Masan Resources to buy a partial stake in the Núi Pháo tungsten mine, according to Indian media reports.
Núi Pháo tungsten mine is located in the northern province of Thái Nguyên and has the richest reserve of tungsten minerals in the world, with a total capacity of about 66 million tonnes, equal to 33 per cent of the world’s.
Sources familiar with the matter told Indian media that a team from NMDC recently visited the Núi Pháo mine and had initial discussions on the deal with Masan Resources.
According to the reports, NMDC is interested in buying a “considerable stake” in the mine, just as India’s government plans to purchase tungsten from the NMDC for national defence development.
The final decision will be conducted after due diligence is completed. NMDC declined to comment on the deal, as the firm signed a non-disclosure agreement with Masan Resources, reports said.
Việt Nam News contacted Núi Pháo Mining Co Ltd, the mining arm of Masan Resources and the owner/operator of the tungsten mine. The company neither denied nor confirmed the deal, saying that its details will be sent to local media later in the process.
At the moment, India has to import tungsten to meet the domestic market demand. Mining for the metal is expensive and economically inefficient.
The Núi Pháo mine is run by Masan Resources, a member of the private-equity consumer goods producer Masan Group. The first shipment to buyers began in early 2014.
However, the profitability of tungsten production in 2016 declined to 9.6 per cent from 19.9 per cent in 2015. In 2016, the company’s profit from tungsten production was VNĐ229 billion (US$10.18 million) – the lowest among three major mining business units.
Masan Resources is traded on the Unlisted Public Company Market (UPCoM) with the code MSR. MSR closed up 14.2 per cent to VNĐ16,500 per share yesterday, totaling a two-day increase of 25 per cent.
Newer News
13/05
Việt Nam's wood industry strives to match sustainable wood demands
13/05
Việt Nam's data centre sector is attractive to foreign investors
13/05
Businesses and people expect VAT cut extension to be approved
13/05
VN ranks second in the world in cryptocurrency ownership rankings
08/05
Enterprises urge petrol price stabilisation fund to be abolished
06/05
Việt Nam leads in export rice prices globally
02/05
CPI in April inches up 0.07%
02/05
Trade surplus hits $8.4 billion in four months: GSO
02/05
Foreign investment disbursement hits record high in the first four months
02/05
Difficulties faced in negotiations of power purchase agreements: EVN
Older News
22/02
VN refinery predicts profit dip
20/02
Petrol prices increase first time in 2017
16/02
Logistics expected to make up 8-10 percent of Vietnam’s GDP by 2025
16/02
Japanese firms show optimism in Việt Nam
16/02
Steel production, consumption down in January
15/02
Tra Vinh spends nearly 55 billion VND to support SMEs
15/02
Vietnamese tuna loses competitive edge in Japan due to high taxes
14/02
China remains Vietnam’s biggest trade partner
14/02
Draft decree on State monopoly in trade submitted to Government
14/02
Garment exports to US, Japan hit 15 billion USD in 2016
Newsletter Signup
*
*
Top Stories
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
Market Update
HOSE
HNX
UPCOM
World
Last updated at
3:05:02 PM
VN-INDEX
1,273.11
+4.33/+0.34%
Top 5 Actives
Top 5 Gainers
Top 5 Losers
Market Overview
My Favorite Quotes
Recent Quotes
Portfolio Summary
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Current value:
Total gain/loss:
/
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
Choose a sector
Basic Materials
Industrials
Consumer Goods
Health Care
Consumer Services
Utilities
Financials
Technology
Oil & Gas
Telecommunications
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple
Portfolios
to help you better manage your investments.
Trigger Alerts
Get up-to-date
alerts
delivered directly to your email address.
Stock Screener
Allow you to
filter the market
and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME
streaming quotes
for hundreds of stocks from HOSE, HNX and UPCOM exchanges.