Dec 15, 2010 01:44 PM

White Knight from China, New Life for Perilya

By staff reporter Zhao Jianfei

picture

Two years ago, corporate survival was Paul Arndt's top concern. Market pressure had forced his Australian mining company Perilya to cut payroll to 370 employees from more than 700. And the future looked grim.

(Paul Arndt)

But a white knight wearing a Chinese hat arrived and quickly eased Arndt's fears. Riding to the rescue was Perilya shareholder Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd.

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