Manhattan's takeover target in carbon tie-up

MINERAL resources firm Singxin Resources, which Singapore-listed Manhattan Resources is in the process of acquiring, has tied up with an Australian carbon technology firm to develop a carbon emissions technology.

Under a memorandum of understanding, both Singxin and Mineral Carbonation International (MCi) will collaborate on this technology that transforms carbon dioxide emissions into magnesium carbonate and silicon dioxide using serpentine as feedstock.

MCi - a joint venture between the University of Newcastle, Australia-listed chemical firm Orica Limited and carbon innovation firm GreenMag Group - will contribute the technology knowhow; Singxin Resources, which owns a firm that is acquiring exploration rights to a large serpentine mine in Xinjiang, Chi…