October 13, 2008

Kam Hing and Wusteel join hands for Madagascar iron ore deposits

Kam Hing International Holdings Limited company announced on January 27th 2008 that it has signed two cooperation agreements with Wusteel for exploration right and the terms of cooperation of Madagascar Bekisopa area.

According to the first agreement, the two sides will set up a joint venture company, Kam Hing accounts for 40% rights and interests, it will use Bekisopa areas exploration and mining rights as fund for the joint venture, the detailed investment and other situation of the two companies will be further consulted by the two sides.

According to the second agreement, the two sides agreed to use the joint venture company to acquire the exploration and exploitation mineral right in Madagascar other areas, if the joint venture company acquire the exploitation right, the strategic partnership should set up and operate the production field, and purchase all the metal mining resources by the current international market price.

Kam Hing and its strategic partnership have dispatched professionals and experts to make investigation in Bekisopa area, and collect samples for testing purposes, the sample contains 53.25% ferrous metals and 11.42% titanium.

Kam Hing International Holdings Limited has already acquired an area of about 287 square kilometers of mineral exploration and mining rights and other regions’ mineral resources.