Hesteel Group acquires Palabora Mining Company’s holding company
The Competition Tribunal has approved a large merger between Hesteel International Holding Company, Hesteel Group, Xuanhua Construction Machinery and Smart Union Resources Hong Kong (SUHK), without conditions. The target firm, SUHK, is an investment holding company based in Hong Kong that controls Palabora Mining Company (PMC), which, in turn, owns Palabora Copper.