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china, interesting developments

  1. gaweb

    2,154 posts.
    It seems like the Chinese will only look after their 'own kind' . man oh man. HOWARD you legend in your own lunchbox, go to China and promote strong relationships between the two nations and business and discuss how the Chinese people in Australia will be looked after. Business is business , now get to work!

    HAVANA, Jan 13 (Reuters) - China's state-run Minerals and

    Metals Import-Export Corporation signed an agreement to

    purchase Cuban unrefined nickel plus cobalt on Monday, the

    Caribbean island's official Prensa Latina News Agency said.

    The director of the Chinese company, Miao Gengshu, was

    quoted stating that in the future Cuban nickel would be favored

    over that of other countries, "due to its excellent quality and

    price," upon signing the deal with state-run Cubaniquel in

    Havana.

    Chinese Foreign Trade and Cooperation Minister Shi

    Guangshen, in Havana for a trade and investment meeting,

    witnessed the signing along with Cuban Vice President Carlos

    Lage, President Fidel Castro's point-man for economic

    development.

    "We have identified in China new business opportunities and

    magnificent technology for our nickel industry," Cubaniquel

    President Angel Hernandez was quoted as stating.

    No further information on the agreement was available.

    Cuban production of unrefined nickel plus cobalt was 75,600

    tonnes in 2002, compared with 76,600 tonnes in 2001, almost all

    for export.

    Nickel is essential in the production of stainless steel

    and other corrosion resistant alloys. Cobalt is critical in

    production of super alloys used for such products as aircraft

    engines.

    Cuba exports most of its nickel plus cobalt to Europe and

    to Canada, where the government and Canada-based Sherritt

    International Corp. jointly operate a refinery.

    Cuba's three processing plants in eastern Holguin Province

    have operated at around capacity since 2001. The government is

    seeking credits mainly from Europe to upgrade and expand two of

    the plants to produce an additional 40,000 tonnes per year.

    The island is the world's fourth-largest nickel producer

    and supplies 10 percent of the world's cobalt, according to

    Cuban Basic Industry Minister Marcos Portal. Nickel was Cuba's

    main export in 2002, followed by sugar.

    Cuban nickel is considered to be Class II with an average 90

    percent nickel content.

    Cuba's National Minerals Resource Center reported in 2000

    that eastern Holguin province counted 34 percent of the world's

    known reserves, or some 800 million tonnes of proven nickel

    plus cobalt reserves, and another 2.2 billion tonnes of

    probable reserves, with lesser reserves in other parts of the

    country.

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