August 10 – Zhejiang Wanma Cable (002276.SZ) plans to spend 290-310 million yuan to obtain a 49-percent interest in Xinjiang Toli Runxin Mining Development Limited (Runxin Mining), reports Shanghai Securities Journal, citing a company filing.

The target, which was formed in July, 2005, had registered capital of three million yuan. Its exploration rights are valid until May 3 2012, and the company is currently applying for mining rights. Runxin Mining’s reserves include 90.83 million tons of copper core, 362,500 tons of copper-based metals, 5,130.7 tons of molybdenum ore and 197.6 tons of silver metals.

Wanma Cable was approved by the China Securities Regulatory Commission to carry out a private placement this April. The Hangzhou-based company researches, develops and manufactures power cables, and its primary input is copper.