Anglo American and China Development Bank establish strategic relationship
04 February, 2008
Anglo American and China Development Bank (“CDB”) are pleased to announce that they have entered into a Memorandum of Understanding (“MOU”).
The MOU represents a long term commitment from both Anglo American and CDB to establish a strategic relationship to identify and develop a pipeline of natural resources projects in China, Africa and elsewhere.
Cynthia Carroll, CEO of Anglo American, said “I am delighted that Anglo American and China Development Bank will be working closely together on what we hope will be a productive relationship lasting many years. Anglo American has an extensive pipeline of projects around the world and is actively looking for further projects in China. This MOU will further enhance Anglo American's project potential in China, Africa and other key markets.”
Chen Yuan, Governor of China Development Bank, said: “Anglo American is one of the world's leading resources groups, with a strong portfolio of world class mining assets and promising projects, including several in China. With the establishment of this strategic alliance, we have become much better positioned in doing business in the natural resources industry. With the growth of the global economy, we are confident that this relationship will be mutually rewarding.”
Notes to Editors:
Anglo American plc is one of the world's largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in platinum group metals and diamonds, with significant interests in coal, base and ferrous metals, as well as an industrial minerals business and a stake in AngloGold Ashanti. The Group is geographically diverse, with operations in Africa, Europe, South and North America, Australia and Asia. (www.angloamerican.co.uk)
China Development Bank plays an important role in providing financing to China's medium and large-scale priority projects in infrastructure, basic industries and the pillar industrial sectors, and supporting the overseas investment projects of Chinese enterprises. (www.cdb.com.cn/english)