Citic Resources unit faces legal action over metals at Qingdao

A Shanxi Coal International unit has filed a claim against a subsidiary of Citic Resources Holdings for $89.75 million plus interest for undelivered aluminium ingots, Citic Resources said.

The claim by Shanxi Coal Import & Export has been filed against Citic Australia Commodity Trading (CACT) for breach of contract, Citic Resources said in a regulatory filing with the Hong Kong Exchange on Thursday August 28, citing a Shanxi Coal announcement a day earlier.

Shanxi Coal Import & Export has received an asset...


Shivani Singh

August 28, 2014

05:52 GMT