China Magnesium Corporation Limited signed an agreement to acquire 21.4% stake in Sovran White International Logistics Company Limited from Sovran White International Pte Ltd for AUD 3 million.

China Magnesium Corporation Limited (ASX:CMC) signed an agreement to acquire 21.4% stake in Sovran White (Shandong) International Logistics Company Limited from Sovran White International Pte Ltd for AUD 3 million on March 8, 2019. The consideration is payable in AUD 2 million cash and 50 million shares of China Magnesium Corporation Limited issued to Sovran White International Pte Ltd.