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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (31031)	1/11/2009 8:33:12 PM
From: LoneClone	Read Replies (1) \| Respond to of 193921

China Mining suspends Wudaoling molybdenum operation tradingmarkets.com China Mining Resources Group Ltd. (SEHK: 0340) Tuesday announced that its subsidiary Harbin Songjiang Cooper (Group) Co., Ltd. had suspended operation of the Wudaoling Molybdenum Mine, on account of sagging molybdenum prices. In addition, Songjiang Cooper lately found the mining subsidence area in this molybdenum deposit and decided to make the maintenance and improvement as soon as possible. The Wudaoling Molybdenum Mine is scheduled to resume operation at the end of May 2009, said people familiar with the matter. China Mining also declared that it had entered into the agreement upon a purchase of a 80% stake in King Gold Investments Ltd., and its trading suspension on the Stock Exchange of Hong Kong would continue. Registered in Bermuda, China Mining bent itself to expanding in the mainland mineral resources sector in recent years. In 2007, the Hong Kong-listed group acquired a 75.08% stake in Songjiang Cooper for HKD 1.964 billion or so.