China and Vietnam develop...

Vietnam Steel Parent Company, Vietnam Old Street Committee and China Kunming Steel Group develop Vietnam Guisha iron ore together and at present, this program is accepting the examination and approval by Vietnam Resource Department. According to the secret news, this program will be started in 2005.

According to the understanding, Vietnam Resource & Environment Dep. is carrying on the evaluation for the program. Guisha iron ore is situated in Old Street, Vietnam and the whole feasible research report and the feasible research report for the smelting association area will be finished in the first half year in 2005. According to agreements related, Guisha iron ore will become the long-term program for exchanging China Southwest Coke. The further research on the iron ore development, process, environmental protection, resource integration and financing will be carried on in the research report.

According to the news from Kunming customs, the reserves of iron ore will exceed 120 million tons. The experts think that the Vietnam emphasizes that the development should follow the sustainable development and environmental protection, which will increase the invest cost, but on the other hand, which can enhance credit standing of enterprises and protect the image and play the important role for the long-term development of the enterprise.