Genmin (ASX:GEN) signed a memorandum of understanding (MoU) with Sinohydro, a subsidiary of Power Construction Corporation of China, to develop its Baniaka project in Africa, according to a Thursday filing with the Australian bourse.
The MoU outlines the collaboration with Sinohydro for project development through the provision of an engineering, procurement, and construction proposal, aiding in procuring funding from financing institutions, investors, and iron ore buyers, the filing said.
The MoU is effective for three years, according to the filing.
Genmin shares rose 12% in afternoon trade Thursday.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。