Mining giant to increase investment in China

Home>>Business

Last updated at: (Beijing Time) Wednesday, March 24, 2004

Mining giant to increase investment in China

DISCUSSION

CHINESE

SEND TO FRIEND

Tony Trahar, CEO of Anglo American plc, a world leader in the mining industry, on Wednesday gave a positive assessment of the Chinese government's efforts to improve the environment for foreign investment after his personal visit.

Anglo American plans to increase its investment in China, to explore resources of rare minerals like gold and diamonds, he said, adding, "I don't believe China's mineral resources have been fully explored."

Anglo American could help China find more minerals with its expertise and advanced technology and equipment, he said. He also suggested that his company could help China resolve the problem of mining safety by improving safety standards.

At a ceremony Wednesday, Anglo American donated three mineral samples, of gold, platinum and diamond, respectively, to the newly-built Geological Museum of China, in the presence of Minister of Land and Resources Sun Wensheng.

The donation of the mineral samples indicates the company's desire to share its international experience, knowledge and expertise with China, the CEO said.

Anglo American was established in Johannesburg in 1917 and became a public limited company (plc) on the London Stock Exchange in 1999. The company now has capital of 37 billion US dollars and annual sales of 21 billion US dollars.

It is mainly involved in gold, platinum, diamonds, coal, base and ferrous metals, industrial minerals, and paper and packaging.

In the mid-1980s, Anglo American began cooperating with China in mineral exploration, and since then, it has invested in a number of mining and industrial projects in the country.

Source: Xinhua

Questions?Comments? Click here

China to meet needs of private investment in mining by revising law

Foreign investment in China's mining industry rising

Indian navy to have two aircraft carriers by 2011 ( 116 Messages)

What's the meaning of Bush & Blair nominated as candidates for Nobel Peace Prize? ( 112 Messages)

Study: Americans eating themselves to death ( 80 Messages)

Japanese PM's remark on shrine visit leads to long-term cold relations with China: Kyodo ( 136 Messages)

French Presidents' China complex ( 73 Messages)