Search on
News Title
News Details
Reports/Directory
Glossary
Title_head
HBIS thanks government of Newfoundland and Labrador
448 times viewed.
Friday, 05 Jul 2013
EmailButton
Pdf_button
stainless-steel-expo_Indinox-2015

Hebei Iron & Steel Group Co Ltd joined forces with the Government of Newfoundland and Labrador at a joint conference held in Beijing, China to further accelerate HBIS's investment in Alderon Iron Ore Corp and the Kami Iron Ore Project located in Western Labrador. A delegation of representatives of the Government of Newfoundland and Labrador, led by Premier Kathy Dunderdale, recently made a trip to China to explore trade and investment opportunities between China and Newfoundland and Labrador. As part of this trip, the representatives attended a conference to accelerate HBIS's investment in Alderon and the Kami Project. HBIS's investment is the largest Chinese investment ever into a Newfoundland and Labrador mining project and the Government of Newfoundland and Labrador has acknowledged its significance.

Representatives of HBIS and Alderon also had an opportunity to meet with the representatives of the Government of Newfoundland and Labrador to discuss the progress of the Kami Project and the benefits that it will bring to the Province. HBIS is confident after these meetings that the Government of Newfoundland and Labrador is supportive of the development of the Kami Project.

Senior officials from Hebei Provincial Government, National Development and Reform Commission, Hebei NDRC, State owned Assets Supervision and Administration Commission of the State Council, Hebei and China Development Bank as well as Bank of China Hebei Branch attended the conference. Canadian Ambassador Guy Saint-Jacques also attended the conference and spoke to the audience.

HBIS Chairman Wang Yifang and President and CEO Mr Yu Yong attended the conference and chairman Mr Wang told the audience in his speech that HBIS continues to have a long term commitment and support the Kami Project. HBIS will introduce Alderon and the Kami Project to various Chinese Banks in order to obtain a portion of the project financing necessary to develop the Kami Project. HBIS's view is that Alderon's current share price does not reflect the tremendous value of the Kami Project. As Alderon and HBIS continue to jointly develop the Kami Project and meet each milestone, HBIS expects its true value will be reflected in the market.

Source – Strategic Research Institute

(www.steelguru.com)

This is alternative content.

/
Arcelor
Integrated
More Chinese News