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On July 13, the Handover Ceremony of Foreign Investment License for MMG in Laos was held in Beijing. President of China Minmetals Mr. Zhou Zhongshu participated in the ceremony and delivered a speech. On behalf of the Lao Government, Mr. Sinlavong Khoutphaytoune, Lao Minister of Planning and Investment handed over the foreign investment license to Mark Liu, executive director of MMG. President Zhou Zhongshu, Senior Vice President Li Fuli and political councilor Long Dingbin of Chinese Embassy to Laos witnessed the moment. The ceremony was presided over by General Manager Jiao Jian of China Minmetals Non-Ferrous Metals Co., Ltd. (CMN)
President Zhou expressed in his speech that Sepon Copper and Gold Mine plays significant role in Laos. In 2009, the total of various taxes and dividends submitted to the Lao Government by LXML under MMG amounted to USD 80.5 million. The cumulative submitted tax to the Lao Government in the past 7 years since the inception of mining was USD 445 million. Besides, Sepon Copper and Gold Mine has hired over 500 local staff. We can say that Sepon Copper and Gold Mine plays a significant role in the national economy of Laos and contributes a lot to the development of local economy and employment.
President Zhou said that we will take the handover of the foreign investment license as an opportunity and abide by the important instructions of H.E. Mr. Choummaly Saygnasone, General Secretary of Lao People's Revolutionary Party, to well operate and manage the Sepon Copper and Gold Mine project, and live up to the ardent aspirations of the Lao Government. In the mean time, we are also committed to strengthening cooperation with the Lao Government in the search for mineral resources such as coal, iron ore, bauxite, tin, etc. to further expand the investment scale, contribute more to the social and economic development in Laos, and promote the bilateral cooperation between China and Laos.
Mr. Sinlavong Khoutphaytoune, Lao Minister of Planning and Investment, expressed that, Lao Government would promote the trade and economic ties with China Minmetals as always and hoped that MMG owned by the Corporation would develop better and have a brighter future in Laos according to the instruction of Chinese and Lao leaders. Finally, he wished the Corporation better development and higher ranking on the Fortune Global 500, as well as a better future of Sino-Laos friendship and cooperation.
Mr. Sykhoun Bounvilay, the General Secretary of Laos-China Friendship Association, Mr. Keo Mackaphonh, the Secretary General of Laos-China Friendship Association, entrepreneur representatives of Laos, as well as Ma Jun, Director of the General Office of the Corporation, Xing Bo, General Manager of Human Resources Department, Xu Zhongfen, General Manager of Planning & Development Department, Xue Fei, general manager of Investment Banking Department and You Yong, General Manager of Law Department participated in the Handover Ceremony. |
