Brief: Vdm Group Signs Heads Of Agreement With Jiangxi Copper Co Regarding Project In Angola

VDM

01/02/2018 08:26

Feb 1 (Reuters) - Vdm Group Ltd  VMG.AX : 
    * SIGNS HEADS OF AGREEMENT WITH JIANGXI COPPER COMPANY 
REGARDING 
JIANGXI'S PARTICIPATION IN CACHOEIRAS DO BINGA COPPER PROJECT IN 
ANGOLA 
    * NEW JV CO WILL BE INCORPORATED IN HONG KONG WITH CO 
CONTRIBUTING 
67 PCT & JIANGXI CONTRIBUTING 33 PCT OF INITIAL RMB10 MILLION 
SHARE CAPITAL OF CO 
    * PARTIES INTEND TO INVEST FURTHER RMB90 MILLION INTO JV CO 
    * CO'S CURRENT 65 PERCENT PARTICIPATING INTEREST IN  
CACHOEIRAS DO 
BINGA PROJECT TO BE TRANSFERRED TO NEW JV CO 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nASX83dxVG 
Further company coverage:  VMG.AX  
 
 (bangalore.newsroom@thomsonreuters.com)