STX Acquires 10.7 Billion KRW Worth of Shares in Ambatovy Nickel Mine Company
[Asia Economy Reporter Minji Lee] STX announced on the 30th that it acquired shares of the Ambatovy Nickel Mine and Refinery Operating Company located in Madagascar for 10.7 billion KRW.
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The company explained, "This is a capital conversion of the previously invested loan capital of 8.9 million USD, resulting in a 1% equity stake based on the number of shares owned," and added, "Through the Korea Ambatovy Consortium, we indirectly hold a 1% stake in the project."
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