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Message: CHINA'S MOLY NEWS

Nov 21, 2007 04:06PM

The following article was sent to me today. It appears China now  says hands off in regard to  their  "FORBIDDEN ITEMS "'

 

Guideline Catalogue on Foreign Investments in China jointly issued by the National Reform and  Development Commission (NRDC) and the Ministry of Commerce.

The new Catalogue, expected to take effect December 1, 2007,
 reclassifies tungsten, molybdenum, tin, antimony, and fluorite into a
 "forbidden category" for foreign investors from a "restricted category" and a requirement for Chinese majority shareholding in exploration and mining of specialty coal such as coking coal.

According to remarks made by Wang Min, Chinese Vice Minister of Land  and Resources, at the China International Mining Conference held in Beijing on November 13, 2007, China will continue firmly opening the mining field to foreign investors and foreign companies may conduct risk prospecting and resource development in China in the form of  solely-funded venture, equity or non-equity joint venture according to law.  The mining industry in China has become an important field for foreign investment.  More than 100 foreign companies have invested in mineral prospecting in China, involving more than 400 prospecting and  mining projects of oil, natural gas, coal, iron, copper, lead, zinc, silver and gold.
 


Nov 27, 2007 01:27AM
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