LB Group's (SHE:002601) unit, Wuding Guotai Minerals, agreed to receive the mineral exploration rights for the Changchong titanium mine in Wuding County, Yunnan Province, China for 99.9 million yuan, according to a Thursday filing on the Shenzhen Stock Exchange.
The mine has a survey area of 23.52 square kilometers.
The Chinese chemical manufacturer signed the agreement with the local government of Chuxiong Prefecture, the filing said.
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