Xiamen Tungsten (SHA:600549) seeks compensation of up to 116 million yuan from CMOC Group (HKG:3993, SHA:603993) after filing a lawsuit over a joint venture dispute, according to a Shanghai bourse filing on Tuesday.
CMOC allegedly violated its agreed terms in its joint venture contract with the tungsten company by ceasing to supply tailings to joint venture, Luoyang Yulu Mining, causing the latter to suspend production.
The Beijing Arbitration Commission has accepted the case.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments