China and Mongolia's Companies Signed Contract on Black Tungsten Fluorite Development

To develop black tungsten fluorite, three enterprises of China and Mongolia signed a contract on October 30. The signing ceremony of the tripartite strategic cooperation between Heilongjiang Mining Group Co., Ltd., Heilongjiang Yinghe Investment Group Co., Ltd., and Mongolian SG Group LLC was held in Harbin, co-signed the China-Mongolia Mining Strategic Cooperation Framework Agreement, decided to cooperate in the development of black tungsten fluorite mine in Mongolian province - Sukhbaatar.

According to the introduction, relying on the "One Belt One Road" initiative and China-Mongolia-Russian cooperation mechanism, speeding up the implementation of the strategy of going out. Bureau of Geology and Mineral Resources of Heilongjiang Province will give full play of the technical advantages to prospect and explore the development of black tungsten fluorite mine.

Wanchen Yu, director of the Bureau of Geology and Mineral Resources of Heilongjiang Province, said that as the largest geological exploration unit in the province, the bureau possesses a complete range of advanced technologies, excellent equipment, and is the main force in the geological industry in the province. The geology workers of the Bureau have been deeply immersed in the land, always fighting in the first line of prospecting, and have achieved excellent results in basic geological surveys and mineral resources exploration. Bureau of Geology and Mineral Resources of Heilongjiang Province would fully support the work and help to achieve excellent prospecting results.

Dongbin Liu, Chairman of Yinghe Group, said that the group owns 27 subsidiaries in 6 sectors and 6 trading platforms including Russia, Mongolia, Korea, and Japan. Its business covers mining, intelligent electronic manufacturing equipment, real estate, cultural media, and automobiles. With the support of Heilongjiang Province, partnering with Russian and Mongolian, it has successfully signed a comprehensive cooperation agreement on agriculture and mining production. The economic and cultural corridors of the three countries have made positive contributions to the going out and bringing in policies. The three parties will jointly explore and develop Mongolian mineral resources and achieve common development based on the principles of equality, mutual benefit, complementary advantages, and benefit-sharing.

SG Group Chairman Tan Sri said the SG Group owns multiple mineral resources development rights in the country. It is believed through the signing of this strategic cooperation the Chinese and Mongolian enterprises will further strengthen all-round collaboration and give out their advantages. Take the principle of mutual benefit, win-win cooperation, and common development. Actively build a platform to expand the scope of project cooperation. Promote new progress in both countries’ economic through practical actions.

The signing ceremony foreshadows the new starting for the Bureau of Geology and Mineral Resources of Heilongjiang Province to go deeper, further on partnering with various companies, and actively integrates the “One Belt One Road” to develop the black tungsten fluorite mine. It is a sign of a deepening corporation between China and Mongolia as well.

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