Mag fights on with Chinese backing

Toronto Stock Exchange-listed MagIndustries is finalising the entry into its capital of China’s Sinohydro Corporation, which is to take a 52.7% stake in the company. It will give Sinohydro a stake in the Canadian group’s Kouilou potash project, eucalyptus plantations and other assets in Republic of Congo (Brazzaville). It could also give essential impetus for the MagEnergy subsidiary’s projects in Democratic Republic of Congo,