Feb 12 (Reuters) - China Magnesium Corporation Ltd CMC.AX :
* Discussions are well advanced for the plant located in Shandong
* China magnesium corporation signed a conditional agreement with Taiyuan Hailifeng Science & Technology Co. Ltd
* Under agreement CMC will lease existing business and production facilities in the Taiyuan high-tech industrial development zone for 20 years
* Says agreement is expected to make an immediate contribution to profit
* Source text for Eikon ID:nASX2x4z5x
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