A delegation led by Mr. Hagos, the Minister of Central Economics of the Eritrean People's Liberation Front, visited the National Corporation.
Time:
2007-05-13 21:23
On May 12, a delegation of three from Eritrea, including Mr. Hagos, Minister of Economy of the Eritrean People's Liberation Front Central Committee, Mr. Zegai, Eritrean Ambassador to China, and Mr. Zhang Qiping, Economic Project Officer of the Eritrean Embassy, visited Guoda Company. The delegation was warmly received by Mayor Zhang Wei, Vice Mayors Sun Xinhe and Du Shanyong, Deputy Director Xu Xiaowei of the Zhaoyuan Municipal Government Office, Director Yu Xijiang and Deputy Director Cong Yuke of the Zhaoyuan Foreign Economic and Trade Bureau, Chairman Zhang Tingkai, and President Xu Yongxiang of Guoda Company.
Eritrea is located in northeastern Africa. Established in May 1993, it established diplomatic relations with China in the same year. The country possesses abundant mineral resources, including gold, copper, and zinc. To avoid monopolies, the Eritrean government plans to invite companies from different countries to participate in development. Minister Hagos's visit aimed to explore potential cooperation with Zhaoyuan, known for its long history and advanced technology in gold mining and smelting, through an on-site investigation of Zhaoyuan and Guoda Company.
During the meeting at Guoda Company, Minister Hagos and his delegation watched a promotional video about Zhaoyuan and Guoda Company's main products, listened to an introduction of Guoda Company, and had a candid discussion about potential cooperation. Minister Hagos stated that Eritrea has abundant mineral resources, while Guoda Company possesses strong financial resources and technology, making their cooperation highly complementary and promising mutually beneficial results. Both sides agreed to establish a long-term strategic partnership covering policy and investment environment information exchange, technology and equipment information exchange, mineral resource information exchange, and personnel exchanges. Following the meeting, Minister Hagos and President Xu Yongxiang of Guoda Company signed a strategic cooperation framework agreement. The agreement stipulates that Eritrea is willing to cooperate with Guoda Company in developing Eritrea's mineral resources, providing Guoda Company with information on exploitable mineral resources and necessary facilitation for exploration and development. Cooperation will primarily focus on precious metals such as gold and silver, and non-ferrous metals such as copper, lead, and zinc. Investments by Guoda Company in Eritrea will be protected by the laws of both the Chinese and Eritrean governments, as will the results of their cooperation. Products from Guoda Company's mining operations in Eritrea, such as copper and gold concentrates, will be sold to Guoda Company's smelters according to international conventions.
During their stay in Zhaoyuan, Minister Hagos and his delegation, accompanied by Mayor Zhang Wei and other leaders, visited the Dayingezhuang Gold Mine and the Zhaoyuan Jewelry City.
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