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JES Int'l hits pay dirt with mining firm

Shares up 26% after Mineriver found to have estimated resources of more than US$500b

Singapore-incorporated Mineriver owns Xinjiang Feng Li De Yuan Trading Co Ltd, which holds the mineral exploration rights for a 21.5km square area in Tuoli District, Tacheng city in northern Xinjiang - PHOTO: REUTERS

SHARES in Chinese shipbuilder JES International soared 26 per cent yesterday to close at 18 cents, after a Xinjiang mining exploration firm that JES is investing in was estimated to have 4.2 billion tonnes in resources, equivalent to a value of more than US$500 billion. This is far higher than