China Natural Resources (CHNR) Forms Joint Venture in Guizhou Province, China
China Natural Resources (Nasdaq: CHNR) announced that, on January 26, 2008, the Company, through two indirect wholly-owned subsidiaries, had entered into an agreement with Jiangxi Province Coal Group Company (the "JV Partner"), a state-owned enterprise and the largest integrated coal producer in Jiangxi Province, China, to jointly establish Guizhou Puzheng Mining Co. Ltd. ( the "Joint Venture Company"), as an equity joint venture company in Guizhou Province, the PRC. The Joint Venture Company, which is to be owned 64% by the Company, intends to engage in the exploration and mining of coal and other mineral resources in Guizhou Province and other regions in China.
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