Withdrawal from JV
29 Maio 2007 - 11:45AM
UK Regulatory
RNS Number:3678X
South China Resources PLC
29 May 2007
South China Resources plc ("the Company")
Withdrawal from Danfeng Joint Venture
South China Resources plc today announces it has decided to terminate its
involvement in the Danfeng Project ("the Project") and the Joint Venture Company
established to develop the Project, the Shang Lou City Zhongbei Minerals and
Mining Development Company Ltd.
Although exploratory drilling conducted over the last 18 months has largely
confirmed the presence of copper mineralisation, further to continued analysis
of the drilling to date, the Board believes that the Project unfortunately does
not meet the development criteria of the Company in terms of potential scale and
projected returns on a fully risked basis.
The Company is however continuing to make positive progress with respect to
advancing all its other business activities in Tibet and elsewhere in China.
The Company will update the market on its current activities and any other
future investments as and when they are contractually finalised.
For further information, please contact:
South China Resources Parkgreen Communications
Alastair Clayton Cathy Malins/ Annabel Leather
+44 20 7292 9110 +44 20 7851 7480
Nabarro Wells & Co. Limited
Hugh Oram
+44 20 7710 7400
This information is provided by RNS
The company news service from the London Stock Exchange
END
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