China Mining Resources Group Limited specializes in mining and processing of molybdenum, tea business and online video broadcasting.
Harbin Songjiang Copper (Group) Company Limited, a subsidiary of China Mining Resources Group Limited, is based in Harbin, Heilongjiang Province, the People's Republic of China and specializes in the mining and processing of molybdenum. Molybdenum is a metal which has an exceptionally high melting point (approximately 2,625°C) and is principally used as an alloy agent in steel cast iron and super alloy to enhance hardness, strength, toughness and resistance to wear and corrosion. Due to limited number of substitutes for molybdenum in steel, alloying and other chemicals application, molybdenum remains a highly competitive commodity.
The Group commenced its tea business since 30 April 2009 after the acquisition of 80% interest in King Gold. King Gold Group is principally engaged in cultivation, research, production and sale of Chinese tea products, and its products are recognised in the PRC as premium tea products and widely distributed throughout the country.
Online Video ("iTV") Business
The Group was engaged in the iTV business since 10 December 2010 after the acquisition of 70% interest in Year Joy Investments Limited ("Year Joy") and its subsidiaries ("Year Joy Group"). Year Joy indirectly holds the entire interest in Beijing Nian Yue Technology Co., Ltd. ("Beijing Nian Yue"), a wholly foreign-owned company established in the PRC with limited liability. Beijing Nian Yue owns 100% of the economic benefit from the operation of the iTV business of China iTV Network Co., Ltd. ("China iTV"), a company established in the PRC on 7 September 1998 with limited liability, through an exclusive business operation agreement.
China iTV is principally engaged in iTV business which involves an online video platform that offers various video contents, including but not limited to TV programs, music videos, blockbusters and Japanese animations, and also provides online games and instant messengers on its website, and establish an extensive video library. It is expected that China iTV will commence the iTV business by the end of first half of 2011.
updated 20th April, 2011
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