das mitlesen im WO kostet nerven....auch nicht unwichtig für uns ;-)
@pepo,nur nett sein ;-)
mfg
me
EPS:
Market Cap: M
Time: 3:41am ET
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Analyst Research Email This Article | Print This Article | Reprints [-] Text [+] By Daisy Ku
HONG KONG, Jan 16 (Reuters) - Chinese metal firm Luoyang Luanchuan Molybdenum Group, which has the world\'s biggest molybdenum mines, plans to raise US$800 million in a Hong Kong listing next month, people familiar with the deal said on Tuesday.
According to market researchers Roskill Information Services, China is a major producer of molybdenum, a minor metal used for hardening steel. The white metal, a byproduct of copper, is valued for its anti-corrosive and strengthening properties. It makes up about 2 percent to 10 percent of stainless steel.
Luoyang Luanchuan Molybdenum Group, which has mine reserves of 2.06 million tonnes of molybdenum, plans to launch its initial public offering in late February, sources said.
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UBS (UBSN.VX: Quote, Profile , Research) and Morgan Stanley (MS.N: Quote, Profile , Research) are the underwriters of the offering.
The Henan-based company will compete for investors with a slew of mining firms that are also seeking Hong Kong listings. Australian-listed gold-mining firm Sino Gold Ltd. (SGX.AX: Quote, Profile , Research) is applying for a secondary offering to raise about US$100 million next month. West Mining, a Chinese producer of lead and zinc, plans to raise US$250 million in the first half. Jinduicheng Molybdenum Group, China\'s biggest molybdenum producer, also plans a US$1 billion IPO later this year.
INCREASING SUPPLIES
Molybdenum prices hit a record high around US$39 a pound in June 2005, up from $20 a pound in October 2004, as demand from fast-growing economies such as China and India accelerated. However, over the past year, prices have retreated as supplies have risen.
Australia-based Thor Mining\'s (THR.L: Quote, Profile , Research) chief executive John Young expects molybdenum prices to halve over the next four years as mines in Latin America have crank up production to take advantage of high prices.
The price of molybdenum has remained firm at about US$26.00 a pound amid talk that the Chinese government was considering limiting exports of the steel-making additive by imposing a quota. China has already imposed export taxes on molybdenum and other minor metals such as chrome and indium to avoid the depletion of the country\'s national resources.
Shares in Hunan Nonferrous Metals Corp. (2626.HK: Quote, Profile , Research), China\'s largest zinc and tungsten miner, have soared about 175 percent to trade at 15 times 2007 earnings estimate of HK$0.30 per share, after raising US$262 million in a March listing last year.
© Reuters 2007. All Rights Reserved.
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