August 2 – Do-fluoride Chemical (002407) planned to acquire a 40-percent interest in a fluorite mining firm in Inner Mongolia for 24 million yuan, reports yicai.com, citing a company filing. The move is intended to stabilize the supply of related resources.

The unnamed target has four mining zones and earns total reserve of more than 1.1 million tons.

Fluorite is a major raw material for fluorine chemicals.

Since China has imposed regulations on the exploration and production of fluorite, the mineral’s per-ton price rose from 1,600 yuan at the end of the second quarter in 2010 to the current 2,600 yuan, a surge of more than 60 percent.

Source:CapitalVue