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Manhattan Resources expands into mining

Company has made announcements related to exploration and mining in Xinjiang

COAL shipping firm Manhattan Resources is set to live up to its name and become more of a resources company.

The coal logistics business has so far provided stable returns, "but I want to bring this company to the next level", its chief executive and managing director David Low told The Business Times. "We want to transform this into a mining company."

Already, the mainboard-listed company has made a raft of mining-related announcements in recent months.

In May, it said it was buying Singxin Resources, a mining firm in Xinjiang with whom it shares a common shareholder in Low Tuck Kwong, an Indonesian mining tycoon. It was to pay S$1 billion for the acquisition in the form of new Manhattan shares...

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