Following the severe downturn in the prospects for uranium exploration companies in the wake of the Fukushima disaster in March 2011, Zeus sought a cornerstone investment from a credentialed partner with matching interests and the Company was renamed Zeus Resources Limited (Zeus), retaining its uranium exploration portfolio but within a broader commodity outlook.
Zeus secured a credentialed cornerstone investor and strategic partner in Zhengyuan International Mining Co. Ltd (ZIMC); a wholly owned subsidiary of the Chinese State- Owned Enterprise (SOE) China Metallurgical Geological Bureau (CMGB).
CMGB is a major Chinese SOE focused on multi-commodity mineral exploration, development and mining. In 2011 CMGB had more than 32,000 employees and assets worth more than $1.5 billion.
