Malaysia Smelting Corporation announced today that it has formed a joint venture company that will be involved in tin smelting and refining and tin semis production in Guangxi, China.
MSC will take a 40% share in the newly-formed Guilin Hinwei Tin Technology Co., Ltd., with local partner Guangxi Guilin Jinwei Realty Co. Ltd. taking 58% and Taiwan-based trading company Vertex Metals 2%. The joint venture will have a registered capital of RMB 150 million (US$20 million). Jinwei Realty has existing tin smelting and tin products facilities in Guilin and controls the Fengmao smelter in Nandan, both in Guangxi. The refined tin production capacity of the new company is believed to be some 10,000 tpy.
Subject to approval by the Chinese authorities and barring any unforeseen circumstances, the deal is likely to be finalised by the first quarter of 2008 at the latest. However it is possible that completion could be a soon as next month.
