Overview
Prosperity Minerals Holdings Limited (“the Group” or “Prosperity”) is an iron ore trading business serving the People's Republic of China ("the PRC") and and holds investments in entities involved in the manufacture and sale of cement and clinker in the same market.
The Group was floated on AIM in May 2006 and raised £115 million. Prosperity Minerals Holdings Limited was incorporated in Jersey and its main country of operation is the PRC.
Prosperity’s iron ore trading business provides an invaluable service to iron ore suppliers around the world and to end-users, principally large steel manufacturers in the PRC. Prosperity provides both suppliers and customers with comprehensive value-added services, including financial and logistical solutions, tailor made to their specific and individual needs. Over the last 18 years Prosperity has gained extensive experience in the field that allowed the team to develop the contacts and good working relationships that enables it to excel in its field.
For more information on the Group's iron ore trading business, please see Iron ore Business.
On 30 April 2010, Prosperity completed a sale and purchase agreement with TCC International Holdings Limited. Pursuant to the agreement, Prosperity sold all of its cement assets, with the exception of its 33.06% interest in ACC, to TCC International Holdings Limited for a consideration of HK$3,800 million (approximately £337 million) in cash.
For more details on the individual projects that make up the Group’s cement manufacturing business, please see Cement Operations.
The Group’s real estate investment and development division was set up on 1 February 2010 and a general manager with ample relevant experience and expertise was appointed to run the division. On 1 June 2010, Prosperity announced that it had entered into a number of conditional agreements for the acquisition of property interests in the PRC which, if completed, will result in real estate investment and development becoming a core business of the Group.
For more information on the Group's real estate investment and development division, please see Real Estate Investment and Development.