Regarding the news that were mentioned in 24.October.2013 dated Metal Pages and 25.October.2013 Metal Bulletin our company MARMARA METAL declared that besides its existing “Trader” identity, Marmara Metal have decided to move in part into the production side of the industry. Whilst Marmara Metal invested a 5.3% share in Thompson Creek Metals Company Inc., Marmara Metal signed an agreement with Chinese Mining Research Group. Under Marmara Metal’s structure, they now possess around its own mining licenses. The Chinese Group has sent their research group to Turkey right now. As a result of this partnership, there is a common production plan for Copper, Nickel and Chrome Ore. This is strategically tied into the investment into Thompson Creek, whom are already a running projects in this sector and materials, therefore Marmara Metal decided to buy 5,3% of their stocks.
MARMARA METAL has increased its stake in Thompson Creek to 5.3%. But as the company's stake reached the 5% threshold on October 8 it was required to notify US stock market regulators within ten days, which it did on October 18.