CELEX: 32019M9252
Language: en
Date: 2019-06-28 00:00:00
Title: Commission Decision of 28/06/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9252 - China Molybdenum Co. Ltd / IXM BV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 28.6.2019
                                                                C(2019) 5025 final
                                                                                 PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.9252 – CMOC / IXM
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 5 June 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which CMOC
        Limited, a wholly-owned subsidiary of China Molybdenum Co. Ltd (‘CMOC’,
        China), whose main shareholder is Cathay Fortune Corporation Co. Ltd (‘CFC’),
        acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the
        whole of IXM BV (‘IXM’, the Netherlands), controlled by New Silk Road
        Commodities Limited, which is wholly owned by NCCL Natural Resources
        Investment Fund LP. The concentration is accomplished by way of purchase of
        shares.3
2.      The business activities of the undertakings concerned are:
             − for CMOC: mining, processing, smelting, deep processing, research and
                 development and trade of molybdenum, tungsten, copper, gold and other
                 precious metals;
             − for IXM (formerly known as Louis Dreyfus Company Metals): global trader in
                 both base metal concentrates (such as copper, zinc and lead concentrates) and
                 refined metals (copper, zinc and lead) and by products (blister, anode, anode
                 slimes, precious metal concentrates, cobalt and secondaries).
1       OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union ('TFEU') has introduced certain changes, such as the
        replacement of 'Community' by 'Union' and 'common market' by 'internal market'. The terminology of
        the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement').
3       Publication in the Official Journal of the European Union No C 203, 17.6.2019, p. 5.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Johannes LAITENBERGER
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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