Mergers & Acquisitions ·
Luda signs non-binding MOU to evaluate $14M acquisition of fluorspar mining rights in Mongolia
LUDLuda Technology Group Ltd
Luda Technology Group Limited signed a non-binding memorandum of understanding with Chuluut-International LLC to evaluate the proposed acquisition of 100% of the legally transferable mining rights and related interests in the Jonsh Tolgoi fluorspar project in Mongolia. The indicative consideration is US$14.0 million, expected to be paid in cash, with a target closing date on or before April 30, 2027. This transaction aims to expand the company beyond its established metals manufacturing business into advanced industrial and technology supply chains. Luda Technology Group Limited is a manufacturer and trader of stainless steel and carbon steel flanges and fittings products.