Liaoning Province, China-based real estate development company Lander Real Estate Co. has announced that it is planning to establish a new wholly-owned mining subsidiary in China's Guizhou Province with the temporary name of Guizhou Lander Da Mining Development Co., Ltd.
The registered capital of the new company will reach RMB 50 million ($7.7 million).
Lander Real Estate said the establishment of the subsidiary company is in line with its plans to acquire mineral assets, adding that the move will speed up its own listing on the stock exchange.