by Greg Klein | November 4, 2015
As part of its goal to connect Chinese buyers with British Columbia jade, Electra Stone TSXV:ELT plans to open a new subsidiary located in Hong Kong. Called Vancouver Jade Holdings (HK) Ltd, it will support sales, marketing and administration of B.C. nephrite jade to the People’s Republic of China, Electra announced November 4.
In our longer-term plans, Hong Kong will serve as our international trading platform for finished jade products from China to the international market.—John Costigan,
president/CEO of Electra Stone
“Hong Kong is the first part of our international expansion plans to deliver a fully integrated solution connecting the jade mining in B.C. with end buyers in Asia,” said Electra president/CEO John Costigan. “Vancouver Jade Holdings (HK) Ltd will serve as our international trading platform for the export of raw nephrite jade stones from British Columbia to China. In our longer-term plans, Hong Kong will serve as our international trading platform for finished jade products from China to the international market.”
Field work has so far confirmed jade on two of Electra’s six B.C. properties. In September the company bought and shipped an 18-tonne cargo of jade to Shanghai in order to establish trade connections. The company’s now preparing a second shipment.
Electra also sells chalky geyserite, or aluminum silica, from its Vancouver Island quarry to a cement manufacturer in Washington state.