China to buy controlling stake in Australian miner
May 01, 2009 at 03:47 AM EDT
China adds to its shopping cart of Australian mining assets Friday, with China Nonferrous Metal Mining Co. set to pay A$252 million ($184.2 million) for a majority stake in rare-earth mineral miner Lynas Corp., a producer of special materials found in products ranging from fluorescent light bulbs to flat-screen televisions and hybrid cars.