JES Int'l switches from mines to forestry
It is buying 51% of Scibois; Mineriver plans put on hold
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LOSS-making Chinese shipbuilder JES International, which earlier turned to a Xinjiang mining exploration firm for a new source of income, is now acquiring a controlling stake in an African forestry business.
At the same time, it is putting on hold its investment into Mineriver.
The mainboard-listed group has entered into an agreement to buy 51 per cent of Scibois Co Limited, which has a 75 per cent stake in a timber extraction firm.
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