[Ferro-Alloys.com]China Molybdenum Co Ltd, China’s largest manufacturer of the soft metal widely used inindustry, has revealed plans to raise as much as 18 billion yuan ($2.8 billion) via a shareplacement.

The company has newly announced two overseas acquisitions worth a combined $4.15billion by its wholly owned offshoot CMOC Limited. It had previously said the purchaseswere to be funded with cash and undrawn credit facilities, based on CMOC's existingresources.

The company will become the world 's largest molybdenum, tungsten, and cobalt producerafter the acquisition is completed. It will also become the second largest niobium producerand the largest phosphate fertilizer producer in Brazil and one of the most importantcopper producer.

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• [Editor:Jiang Li Juan ]