Greenland welcomes Chinese partner

GREENLAND Minerals and Energy has recommended shareholders approve a bid by Chinese rare earths company Shenghe Resources to purchase a 12.5% stake in the group for $A4.6 million.

Greenland welcomes Chinese partner Greenland welcomes Chinese partner Greenland welcomes Chinese partner Greenland welcomes Chinese partner Greenland welcomes Chinese partner

Shenghe subsidiary Leshan Shenghe would subscribe for 125 million GMEL shares at 3.7c each under the deal, giving it the right to also nominate a non-executive director to the GMEL board.