China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Australian coking coal producer Caledon Resources said it agreed to be bought by a Chinese investment group for 313.1 million pounds ($507 million), in a long-awaited deal which has finally met Chinese regulatory approval.
China’s Guangdong Rising Assets Management Co (GRAM) first approached Queensland-focused Caledon with a 112 pence per share offer in November to which Caledon agreed in principle, subject to approval from the Chinese regulators.
