|By PR Newswire||
|November 16, 2012 04:08 AM EST||
HONG KONG, Nov. 16, 2012 /PRNewswire/ -- China Daye Non-Ferrous Metals Mining Limited ("China Daye" or the "Company") (Stock Code: 00661.HK) is pleased to announce that the Company, China Times Development Limited ("China Times") and Daye Nonferrous Metals Corporation Holdings Limited (the "Parent Company", together with its subsidiaries, the "Parent Group") has entered into a memorandum of understanding (the "MOU") on 15 November, to inject into the Company the interest in four mines (the "Existing Mines") currently held by the Parent Group and two mines (the "New Mines") proposed to be acquired by the Parent Group from the relevant government authorities in China.
To support the Company's development, the Parent Group and China Times proposed within the next three to five years, to inject into the Company the interest in four existing mines currently held by the Parent Group, including:
- A multi-metal mine at Zedang in Tibet
- A Guokesu gold mine in the Republic of Kyrgyzstan
- A Jilongshan gold mine in Hubei Province
- A Lini lake copper-iron mine in Hubei Province
Amidst, substantial progress has been made with respect to the exploration of reserves of the Guokesu Mine; the scale of operations of the Jilong Mountain Mine has expanded and has generated revenue and profit and the Lini Mine has commenced trial production.
In addition, the Company will be injected two new mines in Hubei Province that proposed to be acquired by the Parent Group from the relevant government authorities in China, including a rutile mine in Zaoyang and niobium and cerium rare-earth mine in Miaoya, Zhushan.
Mr. Zhang Lin, Chairman of China Daye, commented, "The management of the Company considers it an opportune time for the Company to acquire the Guokesu Mine, Jilong Mountain Mine and Lini Mine within the next three to five years. The signing of MOU, another important step further to the reverse acquisition of Parent Company completed in early March this year, is in the best interests of the Company and its shareholders, and it is another major strategic move by China Daye's parent company to float the premier assets of the Parent Company. Look around, market concerns are deepening amid the complicated global and domestic economic conditions. We will ride on the momentum and work against the headwind by leveraging on the favorable opportunity after the successful completion of acquisition for the Group's integration. In addition, we will continue to optimize our production operations, expand our resource reserves and enhance the quality of our products. We believe that with the consistent effort from management and staff of the Group and the strong support from the community, the Group will achieve sustained and rapid development so as to create better returns for our shareholders.
About the Parent Company
Daye Nonferrous Metals Corporation Holdings Limited ("Daye Nonferrous Metals") was jointly owned by the State-owned Assets Supervision and Administration Commission of Hubei Provincial People's Government (51%) and China Nonferrous Metal Mining (Group) Co., Ltd (49%). After over 60 years of development, it evolved into a leading state-owned integrated copper enterprise with a value chain encompassing exploration, mining, smelting, chemicals, rolling processing, waste heat power generation, waste recycling, research and design, geological survey, shaft engineering, construction and installation, machinery repair and manufacturing and transportation. In 2010, it was selected as a major enterprise promoted by the government in the demonstration zone for the materials industry and newly industrialized enterprises in the central China. Daye Nonferrous Metals has a global business network that is spread around the world. It currently has over 20 wholly owned subsidiaries, associates and holding companies in southeastern Hubei, the Yangtze River Delta, the Pearl River Delta, Hunan, Xinjiang, Hong Kong, Kyrgyzstan and Mongolia.
About China Daye
China Daye and its subsidiaries are mainly engaged in exploration, mining and trading of non-ferrous metals.
Investor and Media Enquiries:
Camille Xiong / David Shiu / Henry Chik
Tel: 852-2522 1838 / 852-2522 1368 / 852-2521 2823
SOURCE China Daye Non-Ferrous Metals Mining Limited
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. The DevOps Summit at Cloud Expo – to be held June 3-5, 2015, at the Javits Center in New York City – will expand the DevOps community, enable a wide...
May. 25, 2015 03:00 PM EDT Reads: 1,723
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
May. 25, 2015 03:00 PM EDT Reads: 4,071
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
May. 25, 2015 02:45 PM EDT Reads: 1,056
Cloud Expo, Inc. has announced today that Andi Mann returns to DevOps Summit 2015 as Conference Chair. The 4th International DevOps Summit will take place on June 9-11, 2015, at the Javits Center in New York City. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at ...
May. 25, 2015 02:00 PM EDT Reads: 1,472
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
May. 25, 2015 02:00 PM EDT Reads: 4,644
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
May. 25, 2015 02:00 PM EDT Reads: 4,110
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enter...
May. 25, 2015 01:15 PM EDT Reads: 1,766
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
May. 25, 2015 01:00 PM EDT Reads: 6,128
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
May. 25, 2015 01:00 PM EDT Reads: 924
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
May. 25, 2015 12:30 PM EDT Reads: 2,772
T-Mobile has been transforming the wireless industry with its “Uncarrier” initiatives. Today as T-Mobile’s IT organization works to transform itself in a like manner, technical foundations built over the last couple of years are now key to their drive for more Agile delivery practices. In his session at DevOps Summit, Martin Krienke, Sr Development Manager at T-Mobile, will discuss where they started their Continuous Delivery journey, where they are today, and where they are going in an effort ...
May. 25, 2015 12:00 PM EDT Reads: 1,136
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
May. 25, 2015 12:00 PM EDT Reads: 1,272
Container frameworks, such as Docker, provide a variety of benefits, including density of deployment across infrastructure, convenience for application developers to push updates with low operational hand-holding, and a fairly well-defined deployment workflow that can be orchestrated. Container frameworks also enable a DevOps approach to application development by cleanly separating concerns between operations and development teams. But running multi-container, multi-server apps with containers ...
May. 25, 2015 12:00 PM EDT Reads: 1,783
Software Development Solution category in The 2015 American Business Awards, and will ultimately be a Gold, Silver, or Bronze Stevie® Award winner in the program. More than 3,300 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration. "We are honored to be recognized as a leader in the software development industry by the Stevie Awards judges," said Steve Brodie, CEO of Electric Cloud. "We introduced ElectricFlow and our Deploy app...
May. 25, 2015 12:00 PM EDT Reads: 1,592
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
May. 25, 2015 12:00 PM EDT Reads: 4,080