China Shen Zhou (SHZ) to Acquire Numerous Flourite, Barite Companies in Guizhou
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China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ), announced that the Company signed a Memorandum of Understanding to merge and acquire a number of fluorite and barite mining and mineral processing companies located in the Wuling mountains in the province of Guizhou. Negotiations are expected to be finalized within the next 60 days.
Since the Company acquired 55% of Xinyi Mining Company in Anhui province, China Shen Zhou has considered acquiring a number of fluorite and barite rich mining companies located in southwestern China. As a result, China Shen Zhou identified and finished its due diligence on several targeted companies and the parties have reached an initial agreement regarding purchase price and transaction structure. Additional details concerning the acquisitions will be disclosed once the definitive agreements are executed.
Since the Company acquired 55% of Xinyi Mining Company in Anhui province, China Shen Zhou has considered acquiring a number of fluorite and barite rich mining companies located in southwestern China. As a result, China Shen Zhou identified and finished its due diligence on several targeted companies and the parties have reached an initial agreement regarding purchase price and transaction structure. Additional details concerning the acquisitions will be disclosed once the definitive agreements are executed.
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