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18 October 2009

Vietnam’s GID to invest $20m in copper business in Laos

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Vietnam’s Green Indochina Development Joint Stock Company (GID) will cooperate with its Lao partner to explore for copper ores in Xieng Khouang and Houaphanh provinces, northern Laos, reported

A contract was signed in Vientiane, Laos, on October 16 between the Lao Government, GID and That Luang Development Joint Stock Company (TDC).

Under the contract, GID will contribute 95 percent of the project’s preliminary investment of $20 million, while TDC will give the rest.

The exploration will be conducted on a 500 area during 54 months. The two investors will set up a joint venture named Indochina Mining Company to carry out the project.


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