During a meeting with Chen Dawei, vice-governor of Guizhou, on Tuesday, Ivan Autonov, board chairman of Acron, said Acron hoped to see substantial progress in cooperation with Guizhou in phosphate mining and processing.

The vice-governor said the high-grade phosphate resources in Guizhou accounts about 60 percent of China's total, and Guizhou expects to cooperate with overseas investors in deep processing and mining of these resources.

The meeting follows a field investigation by Acron experts of phosphate mines in the province last February.

Acron produces 5.5 million tons of chemical fertilizers each year.

The Russian company also expressed interest in a coal-related chemical project in Guizhou, which has a predicted reserve of 240 billion tons.

(Xinhua News Agency July 3, 2003)