National University Company's resource expansion is accelerating across the board
Time:
2007-03-30 21:16
As the only gold smelting enterprise in China without its own resources, Shandong Guoda Gold Co., Ltd. has actively responded to the "going out, going in, and going up" development strategy put forward by the municipal Party committee and government in recent years. It has taken the development of its own resources as an important means to break through development bottlenecks and enhance the company's core competitiveness. Through joint ventures and cooperation, it has actively seized and developed overseas resources, providing sufficient raw material guarantees for the company's sustained and rapid development.
Following the successful signing of a joint venture contract with the Huishan Copper Mine in North Korea in December 2004, in order to further accelerate the cooperation between the two parties and reduce the investment risk of the Chinese side, Guoda Company, through a great deal of hard and meticulous work, successively obtained the "Enterprise Establishment Certificate" and mining license, land use certificate issued by the North Korean government, as well as letters of guarantee issued by the North Korean Mining Industry Ministry, the North Korean International Trade Promotion Committee, and the North Korean Foreign Economic Cooperation Promotion Committee. In December 2006, the company obtained the most legally effective guarantee letter from the North Korean Ministry of Finance, possessing all the legal documents for the joint venture company, making full preparations for the next step of sending a management team to North Korea to carry out mine construction and operation.
In order to develop more and better high-quality resources, around the New Year's Day of 2007, a Zhaoyuan City business investigation team led by Xu Yongxiang, president of Guoda Company, conducted a field investigation of a copper mine in Southern California, USA, and reached a consensus with the foreign party on matters related to the joint development of copper resources. In January 2007, President Xu Yongxiang also conducted a field investigation of a copper mine in Laos, and accompanied Mr. Li Guhao, executive director of South Korea's LS Company, to visit Mr. Chen Jinghe, chairman of Fujian Zijin Mining Group. The three parties held friendly talks on the cooperation in developing copper resources in Canada, Peru and other countries, and reached a cooperation consensus.
While actively developing new resources, Guoda Company opened up a new situation in international trade starting with the procurement of copper concentrate. In 2006, the company registered and established Huatang Trading Company, signed a long-term contract for 38,000 tons of gold concentrate, and further consolidated its business relationship with international trading companies such as Marc Rich, Glencore, and Trafigura. In the whole year, the company purchased 33,000 tons of copper concentrate, 22,981 tons of gold concentrate, and 18,000 tons of zinc concentrate from the international market, greatly meeting the needs of production.
The full-speed acceleration of resource expansion has opened a new chapter in the history of Guoda Company's development, marking the beginning of a new historical period for the company's development.
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