On November 22, China Henan International Cooperation Co., Ltd. (CHICO) entered into cooperation framework agreement relating to Henan International Mining Development Co., Ltd. with Liaoning Zhongwang Group Co., Ltd. and Yidian Holding Group Co., Ltd. The three contract parties plan to jointly invest in bauxite development in Guinea through a capital increment to Henan International Mining Development Co., Ltd.
In October 2010, Henan International Mining Development Co., Ltd., a wholly-owned subsidiary of China Henan International Cooperation Group, obtained the concession mining right for the bauxite project in the Boké Region of Guinea. Since the implementation of the project, it has maintained a steady and good development momentum. It is expected that 6 million tons of Guinea-origin bauxite will be exported to China in 2018. In order to promote the high-quality development of the project, increase project investment, improve the whole industry chain, and enhance market competitiveness, CHICO, Liaoning Zhongwang Group and Yidian Holding Group, under the coordination of SASAC of the provincial government, entered into a framework cooperation agreement, according to which the three contract parties will jointly develop Guinean bauxite mine to provide key raw materials for the fields of high-speed rail, aerospace and marine vessels and so on in China.
According to the agreement, the three parties will combine the advantages of their own, expand capacity cooperation, optimize cooperation content, enhance cooperation value, implement innovation-driven development, and gradually build the industrial structure of transnational bauxite mining as well as primary aluminum and alumina production, and at the same time, help Henan to participate in the promotion of Belt and Road Initiative and advance the upgrading and sustainable development of Henan's aluminum industry.
This is a little bit dated but is shows quite clearly that a framework cooperation agreement was established
Could be our turn next ...
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