Chinese tycoon reportedly detained
Source: Agencies |
March 22, 2013, Friday
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Print Edition
Print Edition
A Chinese tycoon with ties to mining companies in the US, Australia and Africa is missing, and a newspaper said he has been detained by police.
Sichuan Jinlu Group yesterday said it is looking for its Chairman Liu Han and has been unable to contact him by phone.
The Shanghai Securities News said Liu was detained by Beijing police in mid-March while on a business trip to the Chinese capital but gave no indication why he might have been picked up.
Liu's main company, Sichuan Hanlong Group, owns a 13 percent stake in General Moly, a Colorado miner of molybdenum, a mineral used to harden steel. Hanlong was arranging financing for a General Moly mine in Nevada.
A Hanlong spokesman who would give only his surname Su said: "I am unclear about this," when asked whether Liu was detained and where he was.
General Moly said in a statement on Wednesday that it suspended work on a US$665 million loan for its Mt. Hope mine from China Development Bank until it receives clarification from Hanlong.
Hanlong also owns 14 percent of Australia's Sundance Resources, which is developing an iron mine in Congo and neighboring Cameroon in central Africa.
Sichuan Jinlu Group yesterday said it is looking for its Chairman Liu Han and has been unable to contact him by phone.
The Shanghai Securities News said Liu was detained by Beijing police in mid-March while on a business trip to the Chinese capital but gave no indication why he might have been picked up.
Liu's main company, Sichuan Hanlong Group, owns a 13 percent stake in General Moly, a Colorado miner of molybdenum, a mineral used to harden steel. Hanlong was arranging financing for a General Moly mine in Nevada.
A Hanlong spokesman who would give only his surname Su said: "I am unclear about this," when asked whether Liu was detained and where he was.
General Moly said in a statement on Wednesday that it suspended work on a US$665 million loan for its Mt. Hope mine from China Development Bank until it receives clarification from Hanlong.
Hanlong also owns 14 percent of Australia's Sundance Resources, which is developing an iron mine in Congo and neighboring Cameroon in central Africa.
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