Labec Century definition

Labec Century means Labec Century Iron Ore Inc., a joint venture of which 60% is owned by Century Holdings and 40% is owned by WISCO ADI.
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Labec Century means Labec Century Iron Ore Inc., a former joint venture between Century Holdings and WISCO ADI of which 60% was owned by Century Holdings and 40% was owned by WISCO ADI. It becomes a wholly owned subsidiary of Century Holdings after the Joint Venture Acquisition in November 2020.
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Labec Century means Labec Century Iron Ore Inc., a joint venture company owned by Century Holdings and WISCO Attikamagen.
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Examples of Labec Century in a sentence

  • After the subscription, WISCO Attikamagen’s ownership is increased to 40% of the non-voting shares of Labec Century, while Century Holdings’ ownership is reduced to 60% of the non-voting shares.

  • Pursuant to the agreement between the shareholders of Labec Century, the approval of significant financial and operating policies of Labec Century requires consent from both shareholders.

  • The Group’s receivables mainly represented an amount owing from its joint ventures, Labec Century and WISCO Century Sunny Lake.

  • Labec Century has agreed to pay the Company the fair value of any warrants exercised by Champion based on the difference between the exercise price and the market price at the exercise date of any warrants.

  • Since January 1, 2016, Labec Century reduced its exploration activities to claims maintenance only to preserve cash for the iron ore market to recover in the future.

  • The balance mainly comprised of exploration expenditure of the Attikamagen property incurred and paid by the Group on behalf of Labec Century after Labec Century became the Group’s joint venture.

  • Consequently, the Group is deemed to have joint control over Labec Century.

  • As a result of completion of the initial closing transactions in 2012, Labec Century ceased to be a subsidiary of the Group and became a joint venture of the Group that is accounted for in accordance with IFRS 11.

  • Per application of IFRS 11 Joint Arrangements, the Group has the right to the net assets of Labec Century and as such, Labec Century is accounted for as a joint venture in accordance with IFRS 11.

  • Labec Century and WISCO Century Sunny Lake are the Company’s joint venture and the operator of the Company’s Sunny Lake Joint Venture respectively.

Related to Labec Century

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