Jilin Aodong To Invest 300 Million Yuan In Mining Industry

Jilin Aodong Medicine Industry Group has allocated 309 million yuan ($44 million) to purchase Tianchi Industry & Trading Company's 30 percent share in Dunhua Tadong Mining Company-part of Tong Steel Group-and further increase stake in the mining firm. Jilin Aodong says that the investment amount accounts for only 6.71 percent of its 2007 unaudited net assets, thus will not have a major impact on its financials. In fact, the corporation believes the acquisition will greatly help its long-term development if successful. On the other hand, Jilin Aodong faces multiple risks in areas such as market, technology, environment protection, project management and internationally influenced iron ore pricing. (Click her for more - Chinese language)