Feb 12 (Reuters) - China Magnesium Corporation Ltd (CMC) :
- 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