China National Resources Development Holdings Ltd
China National Resources Development Holdings Ltd is engaged in natural resources investment as well securities trading and investments, property investment, management consultancy and development.
During the fiscal year ended April 30, 2008, the Company acquired mining and related businesses, including the Mines located in The Republic of Mongolia, the Aleinuer Molybdenum Mine, the Burentsogt Wolfram Mine, the Sala Wolfram Mine and the Tuv Province Wolfram Mine. It also acquired the Xinjiang silver and copper mining project located in Xinjiang Uyghur Autonomous Region. On September 25, 2007, the Company acquired 51 percent equity interest in China Reservoir Mining Limited (CRML). CRML is engaged in exploration and mining of molybdenum and wolfram.
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China National Resources in talks with Xinjiang Ili Kazakh government on non-ferrous resources
China National Resources Development Holdings is currently in negotiation with the government of Xinjiang Ili Kazakh Autonomous Prefecture for signing of a strategic co-operation framework agreement related to the consolidation and development of the nonferrous metals resources in the prefecture.
According to the company, details of supportive financial, taxation and land policies incentives from the government's part are still to be agreed on.
The substance of the said strategic cooperation framework agreement, which will be finalized subject to the result of the negotiation between the parties, will include the consolidation of the mining areas in the prefecture, especially for those in Nilka County, Kvnes County, Korgas County, TokkuztaraCounty, Monglkvre County.
In particular, consolidations will happen in five metallogenic belts in: the copper-lead-zinc metallogenic belt in Boluokenu, the iron-copper metallogenic belt in Awulale, the copper-lead-zinc polymetallic metallogenic belt in Wusun Mountain-Yishijilike, the copper-lead-zinc-muscovite rare metal metallogenic belt in Nalati and the black gold non-ferrous metallogenic belt in Haerketa.
China National Resources Development stock price has risen 43 percent in the past week.
