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Pangang Group Vanadium Titanium & Resources Co., Ltd Announces Investment in Karara Mining Limited

Monday, 23 Sep 2013 08:00pm EDT 

Pangang Group Vanadium Titanium & Resources Co., Ltd announced that its Australia-based wholly owned subsidiary will convert its AUD 60 million loan borrowed to Karara Mining Limited into 13,907,283 shares of Karara Mining for AUD 4.31 per share. As a result, the Australia-based subsidiary of the Company will hold a 52.16% stake in Karara Mining Limited, up from 50%. Karara Mining Limited is a Australia-based private company engaged in the iron ore exploration, mining and sale. 

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