China Nonferrous Metal Industry”s Foreign
Engineering and Construction Co (NFC) will continue to focus on exploring
minerals in developing countries like Mongolia and Laos, its general manager,
Wang Hongqian, has said. He added, “We”re very cautious when taking steps
to expand overseas, given the complicated investment environment in different
countries, from changing local policies and cultural gaps, to adverse climate
conditions and poor infrastructure.”

The company has successful overseas expansion
experience.  Tsairt Mineral Co, in which
NFC owns 51 percent stake and Mongolian company Metalimpex Co the balance, has
become the biggest joint venture mining company in Mongolia. It has contributed
USD57 million to Mongolia”s exchequer since starting operations in August 2005.
The company has produced 537,100 tons of zinc concentrate and sold output worth
USD372 million to China until April this year. 
NFC”s zinc project has also provided nearly 500 employment opportunities
in Mongolia, and directly lifted the nation”s gross domestic product by 2 to 3
percent.

“We”re actively seeking more
opportunities to cash in on the Chinese government”s promise to develop the
mining sector in Mongolia,” Wang told China Daily, adding that other
mineral resources, apart from zinc ore, will also be considered. Premier Wen
Jiabao said in his recent visit to Mongolia that China will give economic aid,
including grants and loans, to help the neighboring country with its mineral,
communications and infrastructure projects.