News Summary: Search For A Missing Tycoon
By The Associated Press
MISSING: A Chinese tycoon with ties to mining companies in the United States, Australia and Africa is missing and a newspaper says he has been detained by police. Sichuan Jinlu Group said it is looking for its chairman, Liu Han, and has been unable to contact him by phone.
THE WEST: Liu's main company, Sichuan Hanlong Group, owns a 13 percent stake in General Moly, a Colorado miner of molybdenum, a mineral used to harden steel. General Moly said it suspended work on a $665 million loan for its Mt. Hope mine from the state-run China Development Bank.
THE LIST: Liu was No. 148 last year on Forbes magazine's list of the richest Chinese businesspeople, with a fortune estimated at $855 million. Beijing police have not responded to questions by phone and fax about whether Liu was detained.
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