Scibois deal no panacea for JES's troubles
IS IT for real this time?
Many in the market are now wondering just that, after Chinese shipbuilder JES International made a U-turn on an earlier mining investment, and decided that it might have better luck with a forestry business.
The loss-making firm on April 8 announced that it was acquiring a controlling stake in Scibois Co Limited, which indirectly owns a licence to harvest 229,400 hectares of forest area in the Democratic Republic of Congo.
JES will pay the current owners - father-and-son pair Yang Shushan a…
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