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UK minerals group eyes Laos
A UK-based global minerals operator, Zamin Group, yesterday officially launched a representative office in Laos, called Zamin Laos Minerals Ltd.
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| Mr Pramod Agarwal ( centre ) cuts a ribbon to open the Zamin Group's Vientiane office. |
“We set up this representative office in Vientiane to study Laos' great potential, particularly in minerals. Laos is the ninth country in which we have an interest,” said Mr Pramod Agarwal, Chairman of the Zamin Group, at the opening ceremony.
Participants at the ceremony included officials from the ministries of Planning and Investment, Energy and Mines, Industry and Commerce, and Natural Resources and Environment.
Mr Pramod also said the company plans to invest in power and modern infrastructure, which will contribute to the development and eradication of poverty in Laos, in accordance with the government's strategic plan.
Zamin Group is one of the world's leading mining companies, with projects in Brazil, Uruguay, Bolivia, Peru, Colombia, Indonesia, the Philippines and Mozambique. They have a world-class portfolio of iron ore and coal projects in Latin America and Asia.
Recently another mining company, the Lao Geological Survey and Mines Development Joint Company, was founded to undertake geological surveying and mining services.
The company is a joint venture between the Minerals Department of Laos and a Chinese investor. It involves an investment of about 80 billion kip (US$10 million).
The Minerals Department holds a 49 percent share in the company and the remainder belongs to the Chinese investor. The agreement lasts for 20 years and can be extended twice for 10 years each time.
vientiane times
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