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Ding He Mining, Xinjiang Tianpeng ink LOI for magnesium ingot production

Ding He Mining Holdings Ltd. said Aug. 7 that it entered a strategic cooperation letter of intent with Xinjiang Tianpeng Energy Co. Ltd. for magnesium ingot production.

The company will provide plants and land in Malaysia and the relevant legal procedures, while Xinjiang will be responsible for funding, purchasing equipment, technical support and daily operations management.

The parties also plan to team up on starting new businesses, including in semicoke. The agreement will be finalized upon the completion of due diligence within three months.

Ding He Mining is principally engaged in dolomite mining and magnesium ingot manufacturing in Malaysia as well as resource exploration in Indonesia.

Xinjiang Tianpeng Energy is a green environmental coal chemical enterprise.