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MFC Bancorp Ltd. Message Board

  • olgaoldenburg olgaoldenburg Feb 6, 2013 2:19 PM Flag

    MFC/Alberici in China for technical/development consultations concerning Pea Ridge/REE

    Seemingly also the Pea Ridge plans are going forward....

    In december 2012 a highranking MFC/Alberici delegation met highranking officals, e.g. president/delegates of China Rare Earth Industry Association, Beijing Nonferrous Metal Research Institute, International Cooperation Bureau, New Metallurgy Hi-Tech Group Co, and others for technical consultations....

    Source: Website of the "Chinese Acadamy of Engineering" :

    "Gan Yong, vice president of International Finance Group met with the American public guests

    Source: Bureau of International Cooperation :2012 -12-18

    December 4, Chinese Academy of Engineering, Gan Yong, president of the China Rare Earth Industry Association, in our hospital, met with the visiting Chairman of the Board of Directors of the American Public International Financial Group Inc. (MFC), Michael Smith and his party. Exchanges of China's rare earth industry policy and rare earth engineering development, and Missouri, USA PEA RIDGE mine continued construction projects and development-related issues were discussed.

    Gan Yong, vice president, very pleased to see Michael Smith and his party at the Academy of Engineering. Chinese Academy of Engineering, National Engineering Technology consulting academic institutions, committed to prepare for the country's engineering technology development consulting work. Academy of Engineering, has been very concerned about the development of rare earth resources and mineral resources, want countries to strengthen exchanges and cooperation, and safeguard the healthy development of the industry. At present, China's industrial economy into a new period of development, we attach great importance to conduct exchanges with foreign institutions, are willing to carry out relevant cooperation with the United States MFC.

    Mr. Michael Smith to thank Gan Yong, vice president of the meeting, that the Chinese rare earth production advantage in the global mining technology and design technology is more mature, has a good reputation in the international arena, hoping to cooperation with relevant Chinese agencies to do a good mine subsequent development work.

    The United States introduced the background of the the MFC Group Company and its partners Alberici Constructors Company. MFC is a New York-listed company founded in 1984, is mainly engaged in mineral mining business activities are concentrated in Europe, Canada, India, a large part of the business expand in China. Alberici Constructors provides engineering and construction services for industrial equipment and facilities, the 94-year-old.

    MFC introduced by the staff of the Missouri State the PEA RIGDE mine, hoping cooperation with relevant Chinese agencies to help for the next stage of development, reasonable process design, common to develop PEA RIGDE mine project. The two sides discussed the composition of mine tailings and the main problems, and communication and discussion on its development value.

    MFC CHINA chairman Eugene Chen, the MFC Group vice president, assistant Yvonne Liao, project manager Robert Niemeier, business and technology consultant, William B. Wray and MFC CHINA Cao Weiwei, Chen Wu Hill accompanied visiting. Kang Jincheng, Deputy Secretary of the Academy of Engineering, the International Cooperation Bureau, Xu Jin, deputy inspector, New Metallurgy Hi-Tech Group Co., Ltd. Chairman Huang Rongsheng, general manager Zhang Qifu, China Rare Earth Industry Association Deputy Secretary-General Chen Zhanheng, Beijing Nonferrous Metal Research Institute, a professor-level senior engineer Dragon Zhiqi and International Cooperation Bureau, attended the meeting."

    (via google translator)

    Sentiment: Buy

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    • Good find olga!
      The funny thing is - MS dismissed the Rare Earth (RE) angle on the conference call when discussing the Pea Ridge acquisition saying something to the effect that it was "minor".
      In these discussions it appears that the "RE angle" is most prominent.

      As we know, this is a politically sensitive topic since the US may not approve any RE deals with China/Chinese firms. Let us tell the US authorities that it is all about iron ore. Let us tell the Chinese authorities that it is all about RE. Surely he is not thinking of doing that!

      In any case, this news combined with the Oltchim negotiations and the Niton gas tender is very good overall. It shows that MS is actively working to monetize the company assets.

      Sentiment: Strong Buy

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