IRC (HKG:1029) said it completed the sale of its ownership in a vanadium joint venture held by its Ariva HK unit, according to a Hong Kong bourse filing Thursday.
Shares of the iron ore miner fell over 3% in late morning trade Friday.
The company sold its 46% stake in the venture for 32.2 million yuan to JV partner Jianlong Steel which already owned 49% of the business.
IRC disposed its stake because the venture had not been generating profit, it had said previously.
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