You are using an older browser version. Please use a supported version for the best MSN experience.

Chinese miner buys manganese Canadian firm in Guyana

Associated Press Associated Press 13/11/2016

GEORGETOWN, Guyana — Guyana's government says Chinese mining company Bosai Minerals Group has agreed to pay $10 million dollars to Canadian Reunion Gold Corporation for its stalled manganese facility in the South American country.

The Guyanese Ministry of Natural Resources reported the deal on Sunday.

The Matthews Ridge Manganese Project has been stalled by low and volatile prices for the metal.

Bosai Minerals Group will pay $5 million in cash and deliver the remainder in staggered payments from the sale of manganese shipments after production starts.

Manganese is used as a metal alloy in the stainless steel industry and is useful in protecting steel products from rust and corrosion.

image beaconimage beaconimage beacon