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Mining Giant to Increase Investment in China

Tony Trahar, CEO of Anglo American plc, a world leader in the mining industry, on Wednesday gave a positive assessment of the Chinese government's efforts to improve the environment for foreign investment after his personal visit.

Anglo American plans to increase its investment in China, to explore resources of rare minerals like gold and diamonds, he said, adding, "I don't believe China's mineral resources have been fully explored."

Anglo American could help China find more minerals with its expertise and advanced technology and equipment, he said. He also suggested that his company could help China resolve the problem of mining safety by improving safety standards.

At a ceremony Wednesday, Anglo American donated three mineral samples, of gold, platinum and diamond, respectively, to the newly built Geological Museum of China, in the presence of Minister of Land and Resources Sun Wensheng.

The donation of the mineral samples indicates the company's desire to share its international experience, knowledge and expertise with China, the CEO said.

Anglo American was established in Johannesburg in 1917 and became a public limited company (plc) on the London Stock Exchange in 1999. The company now has capital of US$37 billion and annual sales of US$21 billion.

It is mainly involved in gold, platinum, diamonds, coal, base and ferrous metals, industrial minerals, and paper and packaging.

In the mid-1980s, Anglo American began cooperating with China in mineral exploration, and since then, it has invested in a number of mining and industrial projects in the country.

(Xinhua News Agency March 25, 2004)

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