Shandong Gold Group and Argentina joint venture mining

November 17, Shandong Gold Group's International Mining Co., Ltd. (hereinafter referred to as "Shan Jin International") Deputy general manager Goyu to our correspondent, Shandong Gold Group will and Argentina La Rioja, Prov. De (La Rioja) Energy mining Company, Hong Kong Beddick Investment Co., Ltd. to sign,　　To form a joint venture to conduct mining exploration.　　Among the newly formed joint ventures, the Shandong Gold Group will hold a 51% per cent stake, with the Argentine energy mining Company and the Hong Kong Beddick Investment Limited holding 12% and 37% per cent respectively.　　Goyu also revealed that, in addition to Argentina, Shandong Gold Group has been to the United States, Canada, Australia, Brazil and other countries to investigate the mineral resources, has been determined to set up target projects or companies to speed up the pace of acquisition of foreign resources.　　This reporter also learned that the Shandong Gold Group in the overseas investment of the mineral species will not be limited to gold, silver, copper, iron, tin and other metals are the scope of investment, once the assets mature, Shan Jin International will be listed in Hong Kong, and injected overseas high-quality assets.　　La Rioja, Prov. De Governor Beder Herrera said that Argentina has a wealth of copper and gold resources, Chinese companies are their best choice to introduce investors, La Rioja, Prov. De policy will focus on Chinese companies.　　Jorge Mayoral, the state Secretary of Mining in the Argentine Republic, Mayora four visits to China in the last 1.5 years, Mayora said that Argentina will continue to increase its mining investment and welcome Chinese companies to invest in resources such as bauxite and copper mines in Argentina.　　Although Shandong Gold Group "go out" strategy has begun to "casing" the world, but so far, compared to its rivals China Gold Group, Zijin Mining and Lingbao Gold, Shandong Gold Group has taken a big step.　　Shandong Gold Group Chairman 王建华 to our correspondent that in recent years, Shandong Gold Group in overseas development, regardless of the quality of development, or the number of resources, and competitors have a big gap. In order to accelerate the "go out" pace, this year, Shandong Gold Group has set up a special international Mining Co.　　International Mining Co., Ltd. is fully responsible for the group's overseas mining business, the implementation of project transactions, in charge of the plate overseas listing and financing, to assume the Shandong Gold Group "decisive battle overseas" strategic transformation of the task. Argentina will be the first stop for Shandong Gold Group's overseas investment. According to our correspondent understand, Shandong Gold Group will work with La Rioja, Prov. De Energy Mining Company to develop La Rioja, Prov. De copper mine.　　At present, Argentina's gold annual output of 42 tons, ranked third in the American continent, only behind the United States and Peru, more than Brazil and Chile, ranked 14th in the world.　　Investors are concerned that Argentina is currently improving mining investment policy and regulations, for example, the La Rioja, Prov. De originally prohibited the open mining in the province, the provision has now been revised. Mayora also referred to the mining cooperation Agreement between Argentina and Chile, which has significantly improved the competitiveness of the Argentine mining industry. The two countries agreed to share a 4500-kilometer border zone in the AndesWith the development of mineral resources. The region is considered one of the most resource-rich regions in the world. In recent years, the launch of a large number of infrastructure projects has also stimulated the process of mineral development in both countries.