Jacob&Co watches

The CRCC-Tongguan Investment (Canada) Co., a joint venture with investments from China Railway Construction Corporation Limited (CRCC) and Tongling Nonferrous Metals Group Holdings Co.,Ltd., finally acquired 96.6 percent shares of CorrienteResources Inc. after two setbacks.

The bulletin released by Tongling Nonferrous Metals yesterday evening showed that CRCC-Tongguan purchased all the outstanding common shares of Corriente at a price of 8.60 Canadian dollars in cash per share before the expiry of the offer at 5:00 p.m. (Vancouver time) on May 28, 2010. CRCC and Tongling bought around 76 million common shares of Corriente under the agreement.

CRCC-Tongguan, was founded on Dec. 10, 2009 and it is a 50-50 joint venture by Tongling Nonferrous Metals and CRCC. After the joint venture’s establishment, CRCC, Tongling Nonferrous Metals and CorrienteResources Inc. jointly signed an “acquisition support agreement” on Dec. 28, 2009.

According to the agreement, CRCC-Tongguan was set to acquire 100 percent shares of Corriente in 100 percent of cash of offer acquisition.

CorrienteResources Inc., a junior mining company listed in the securities market of Canada and the United States, was set up in Vancouver, Canada. Its main business was to explore and develop copper, gold, silver and gypsum.

The data showed that it is the second largest overseas copper mining acquisition deal for Chinese companies. In accordance with estimation by analysts, the deal can achieve profits of 150 billion yuan in total in a view of the 10 million tons’ reserve after the acquisition.

China’s consumption in copper accounted for 26.4 percent in 2008, the largest consumer in the world. Currently, China’s dependency on copper ore is second only to the iron ore. China relies on imports for two-thirds of its copper ore. Before that, Chinalco successfully acquired Peru Coppe Inc. with 12 million tons of copper volume for the price of 86 million U.S. dollars.

They are generally two different types of cooling system:water-cooling system and air-cooling system.Water-cooling system is more common.The cooling medium, or coolant, in them is either water or some low-freezing liquid, called antifreeze.A water-cooling system consists of the engine water jacket, thermostat, water pump, radiator, radiator cap, fan, fan drive belt and neccessary hoses.
  A water-cooling system means that water is used as a cooling agent to circulate through the engine to absorb the heat and carry it to the radiator for disposal.The ebgine is cooled mainly through heat transfer and heat dissipation.The heat generated by the mixture burned in the engine must be transferred from the iron or aluminum cylinder to the waterin the water jacket.The outside of the water jacket dissipates some of the heat to the air surrounding it, but most of the heat is carried by the cooling water to the radiator for dissipation.When the coolant temperature in the system reaches 90′,the termostat valve open fully, its slanted edge shutting off the sforter circuit so that coolant circulates through the longer one: water-pump-cooling jacket-thermostat-radiator top-tank-radiator core-bottom tank-pump.
   Water pumps have many designs, but most are the centrifugal type.They consist of a rotating fan,or impeller,and seldom are of the positive displacement type that uses gears or plungers.Many water pumps have a spring-loaded seal to avoid leakage of water around the pump shaft.Some V-type engines have a pump on each cylinder biock.
   The radiator is a device designed to dissipate the heat which the coolant has absorbed from the engine;it is constructed to hold a large amount of water in tubes or other passages which provide a large area in contact with the atmosphere.
   The radiator usually mainly consists of the radiator core, radiator bottom tank,and radiator top tank.Radiator cores are of two basic types,the fin and tube(fins are placed around the tubes to increase the area for radiating the heat)and of the ribbon cellular or honey comb tybe.The popular fin and tube type of radiator core has the advantage of fewer soldered joints and is there a stronger construction.It consists of a series of pareller tubes extending from the upper to the lower tank.The honeycomb type core consists of a large number of narrow water passage made by soldering pairs of thin metal ribbons together their edges.These tubes are separated by fins of metal ribbon which help dissipate the heat.
   The radiator cap serves not only to prevent the coolant from splashing out the filler opening,but also to prevevt evaporation of the coolant.
   The fan designed to draw cooling air through the radiator core.The fan is usually mounted on an extension of the water pump shaft and is driven by V-belt from a pulley mounted on the front end of the crabkshaft.Usually the same belt drives the alternator, and belt tension is adjusted by swinging the alternator on its mounting.