ZincOx Resources Strikes Joint Venture Deal with Korea Zinc
23 Janvier 2017 - 11:44AM
Dow Jones News
By Philip Waller
LONDON--ZincOx Resources PLC (ZOX.LN) said Monday it had
launched a joint venture with Korea Zinc Company Ltd to develop a
galvanized scrap metal recycling plant in Vietnam.
KZC will fund a definitive development study to enable the
finance to be raised to build the plant. The study is expected to
cost about $2.5 million.
KZC will own 51% of a special-purpose company set up to develop
the plant, with the remaining 49% held by ZincOx.
If the study costs more than $3 million, the interest of ZincOx
in the joint venture will be diluted proportionately according to
any extra funds that KZC has contributed. ZincOx will be able to
buy back its interest to 49% on the same terms in the following six
months.
-Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
January 23, 2017 05:29 ET (10:29 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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