On August 12, Chifeng Gold and Xiamen Tungsten signed the Strategic Cooperation Framework Agreement on Resource Development at Intercontinental Kunming.

The Agreement stipulates that both Parties, as their respective strategic partners in the field of rare earth resources business in Laos, will jointly build a platform for operating rare earth resources development in Laos, furthermore, both Parties will reach a consensus on strengthening in-depth cooperation in the field of deep processing of rare earth.

Xiamen Tungsten is one of the national rare earth groups approved by the State Council, with a complete rare earth industrial chain and occupies a leading position in the green and efficient development and deep processing of rare earth resources. Chifeng Gold has successful experience in international mine operation in Laos, and has been positively affirmed and strongly supported by the local government. LXML successfully signed cooperation agreements with Lao Mining Development State Enterprise and DDC (Douangchaleun Development Company) on gold, copper and rare earth resources in Laos earlier.

The cooperation will rely on their respective advantages in resource development and utilization and international management, promote in-depth cooperation and exchanges in scientific development, green and efficient utilization of rare earth resources, and achieve the goals of complementary advantages, mutual benefit and common development.