Foreign mining ministers gathered together in Tianjin to attract China`s Investment
Source: www.mlr.gov.cn Citation: www.chinanews.com Date: Nov.6, 2012
According to the news from China News Agency in Tianjin on November 5, mining ministers and top leaders from Canada, Cambodia, South Africa, Argentina and other countries gathered Mining Ministers and Mining Development Forum of CHINA MINING 2012. The ministers described mining development blueprint, policy, infrastructure construction and so on in their own countries, aiming to absorb international capital especially from China’s investment.
Under the continuous financial crisis, global economic growth shows a downturn trend. Many countries’ Energy and mineral industries which have long-term investment return are facing the problem of capital pressure resulted from shrinkage of international investment.
Although the international situation is bleak, Chinese enterprises` involvements in international investment, merger and acquisition are quite active in recent years. According to statistics, since 2002 the direct investment in foreign countries in the field of mining has increased year by year. By the end of 2011, China`s foreign investment was $424.7 billion, and mining industry $67 billion. China, as an important investment hot spot, receives the various countries` attention.
The Hon. Ezekiel Momakewa, Vice Minister for Mineral Resources, Energy and Water Resources, The Republic of Botswana, said in the forum that Botswana government is dedicated to the improvement of the local infrastructure to help mining investors transport mineral resources and downstream processing. To attract investment, Botswana government adopts zero tariff system for mining equipment import and highly encourages the construction of downstream factory at the same time.
The Hon. Esperanca Bias, Minister for Mineral Resources, The Republic of Mozambique, attached great importance to the cooperation with China in the line of mining and regarded it as the important contribution to future financial and social welfare. She hoped that Chinese enterprises could provide more service in mining, service and productivity construction in the future.
The Hon. Anil Arora, Assistant Deputy Minister of Natural Resources, Canada, highlighted Canada`s Perfect and transparence of mining system. He said all enterprises at home and abroad are treated equally in Canada. At the same time, the Canadian federal income tax is only 15%, the lowest among those 7 western countries including the United States, Germany, Italy, and etc.
The Hon. Carlos Federico Aunquilla, Deputy Minister of Mines, The Republic of Ecuador, said “We are quite satisfied with the level of Chinese enterprises’ involvement in mining investment”. He stressed that foreign enterprises, especially from China, had the complete freedom in profits, tax, assets and foreign exchange transfer.
The Hon. Oyun Erdenbulgan, Deputy Minister of Mines, Mongolia, described the core role of mining in economy growth. He said:" in order to make our products enter the international market, we have set up a series of goals and have constructed railway, bridge, power plant and industrial base to connect with the international market." （translated by TLRHVC）
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2012 is held at Meijiang Convention and Exhibition Center in Tianjin on November 3rd-6th, 2012 (Expo is opened on 3rd pm Nov., 2012). We invite you to join the event and to celebrate the 14th anniversary of CHINA MINING with us. For more information about CHINA MINING 2012, please visit: m.balanzskin.com.
