Yunnan Tin to issue convertible bonds
(China Daily)Updated: 2007-05-11 09:08
Yunnan Tin Co, the world's top maker of the metal, will
sell 650 million yuan worth of convertible bonds in an attempt to expand mines
and processing plants to meet growing demand.
The company will sell the five-year bonds on May 14, the Kunming, Yunnan Province-based miner said yesterday. The funds will be used to develop two mines and three processing plants, all in Yunnan, and upgrade existing facilities, it said.
Tin demand in China, which accounts for a third of global use, is rising as companies use more metal in electronic parts. That demand, coupled with a crackdown on illegal mining in Indonesia, has boosted the price 52 percent over 12 months.
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