OREANDA-NEWS. July 23, 2010. MOU signed by CEO of En+ Group and Basic Element Oleg Deripaska and president of NORINCO Zhao Gang outlines the cooperation in mining and metallurgical projects and vehicle production. This MOU extended the cooperation between Oleg Deripaska companies and Norinco which was initiated by RUSAL in November 2009 by signing the agreement to supply of 1.68 mln tones of aluminium.

Mining and metallurgical projects:

En+ and Norinco have agreed to enter into negotiations on cooperation in the joint development of various metals and mining projects in Russia and other countries with a view of meeting a growing demand for commodities in Asian markets. As a pilot project the parties have agreed to jointly look at the exploration opportunities with "Strickeforce Mining and Resources" (SMR, controlled by En+) company.

Vehicle production:

The parties intend to consider the possibilities of cooperation with Russian Machines Corporation, a subsidiary of Basic Element (BEC), in machinery construction industry.

 "We are delighted to extend our long - term cooperation with NORINCO as a partner in a wide range of new projects that could strengthen the ties between Russia and China and contribute to social development of Eastern Siberia " - commented Oleg Deripaska.

 "The cooperation between NORINCO and EN+ and Basic Element could combine the advantages of two countries's enterprises, which also fully reflects the strategic partnership of two countries," -  commented Mr. Zhao Gang.