Overview
Prosperity Minerals Holdings Limited (‘the Group” or “Prosperity”) is a large cement operator in the PRC and major iron ore trading company serving 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 People’s Republic of China (“PRC”).
The Group has equity interests in six existing cement and clinker manufacturing projects. The gross tonnage (including the equity interest of partners) under Prosperity’s control and influence as of June 2008 is over 21 million tonnes per annum. The Group also has three greenfield projects, two of which are pending governmental approval. These three projects together with expansion plans at two of its existing facilities will take the gross tonnage under Prosperity’s control and influence to above 33 million tonnes per annum by the end of 2009.
The Group has management control of all the plants except for Prosperity Conch Cement Company Limited where Prosperity’s partner in the project, Anhui Conch Cement Company Limited, has management control as the majority stake holder.
For more details on the individual projects that make up the Group’s cement manufacturing business, please see cement operations.
The Group’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 17 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.