Luoyang Molybdenum initiated the largest A-share overseas merger and acquisition of over 27 billion yuan in the first half of the year, and has now completed nearly half. At the same time, the matching 18 billion fixed increase plan has also been accepted by the CSRC.
On October 10, Luoyang Molybdenum (603993.SH) announced that the company's acquisition of Anglo American's high-quality niobium (AANB) and phosphate (AAFB) projects in Brazil had been completed. Only five months have passed since the company announced the acquisition in May this year.
The completion of the Brazilian niobium-phosphorus project marked the completion of nearly half of Luoyang Molybdenum's 27 billion overseas M & A transactions, a step further towards the goal of the international mining giant. However, some insiders said that the risks of overseas mergers and acquisitions should not be underestimated, and it is still too early to discuss the success of overseas dips.