GLOBAL Ferronickel Holdings Inc. (FNI) on Friday signed the purchase agreement giving it a pivotal 20-percent stake in Guangdong Century Tsingshan Nickel Industry Co. Ltd. (GCTN) through the purchase of shares in GHGC Holdings Ltd. (GHL). GHL owns 90 percent of the GCTN issued and outstanding shares.
GCTN is a nickel alloy enterprise in China operating one of the world's advanced smelters with RKEF technology in a 33-hectare facility with over 600 employees. The plant uses a rotary kiln technology that produces about 28,000 tons of pure nickel annually. GCTN caters to customers in Guangdong's Economic and Technological Development Zones and foreign buyers.
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