China’s Evergreen Industry Holding acquires Mag Industries Corp.

Zhejiang, China-based Evergreen Industry Holding Group has said it has completed the acquisition of Canada-based mineral exploration company Mag Industries Corp. According to Mag Industries Corp, Evergreen Industry Holding Group has acquired Mag Industries Corp. for a total of C$115 million (US$121 million). Accordingly, Mag Industries Corp. will have enough capital to explore its potassium ore deposit located near the Mengo mine area in Congo. The reserves in question amount to 500,000 mt.