|
The largest Sino-foreign cooperative project on metal mineral exploration was signed in Beijing yesterday between Ivanhoe Mines Ltd, Pacific Minerals Inc, and the Yunnan Provincial Bureau of Geological and Mineral Exploration.
The joint project will invest US$11 million to prospect copper deposits over an area of 3,000 square kilometers in Southwest China's Yunnan Province.
Canada-based Ivanhoe Mines belongs to Ivanhoe Energy Inc, which formed a strategic alliance with the China International Trust and Investment Corp (CITIC) in October to cooperate in the oil and gas industry in China and worldwide.
The latest cooperation will see the creation of two joint ventures - the Yunnan Xinzhao Copper Mineral Co Ltd and the Yunnan Xindian Copper Mineral Co Ltd.
The two ventures will jointly explore and manage the minerals if any beds they find are valuable.
(Edited by china.org.cn from China Daily December 3, 2002)
|
