overview of ord - huge potential, page-96

SSKim CNFMM and NFC are associated companies. This may help:

China Nonferrous Metal Industry's Foreign Engineering and Construction Co (NFC) is planning more overseas mergers and acquisitions to expand its mineral wealth, a top company official said on Monday.
Wang Hongqian, general manager of Beijing-based NFC. [CHINA DAILY]
NFC is also boosting its presence in mineral-rich nations like Canada and Australia through stake buys to have bigger bargaining power in the global arena, said Wang Hongqian, general manager of Beijing-based NFC.
Wang said in developing countries like Mongolia and Laos, NFC will continue to focus on exploring minerals, most of which are needed to satisfy domestic demand for natural resources.

In Canada and Australia, NFC aims to buy minority stakes in local mining companies to accumulate experience.

The company is currently in talks with Australian metals developer Reed Resources to finance the latter's Barrambie vanadium project in Western Australia.

"We're very cautious when taking steps to expand overseas, given the complicated investment environment in different countries from changing local policies, cultural gaps, to adverse climate conditions and poor infrastructure," said Wang.

The company has successful overseas expansion experience. Tsairt Mineral Co, in which NFC owns 51 percent stake and Mongolian company Metalimpex Co the balance, has become the biggest joint venture mining company in Mongolia. It has contributed $57 million to Mongolia's exchequer since starting operations in August 2005.

The company has produced 537,100 tons of zinc concentrate and sold $372 million products to China till April this year.

NFC's zinc project has also provided nearly 500 employment opportunities in Mongolia, and directly lifted the nation's gross domestic product by 2 to 3 percent.