Among deals announced Tuesday, China Metallurgical Group Corp. said it will construct an iron-titanium mine in South Africa. The mine will have annual production of 1.2 million tons of pig iron and 680,000 tons of titanium dioxide, Xu Yongjie, a vice president of MCC International Inc., a China Metallurgical unit, said on the sidelines of the China-South Africa Business Forum.
China Metallurgical's framework agreement, signed with Kermas Mining Fund LP, sets the Chinese company as the main contractor for building the mine, which is located in northeastern South Africa, as well as for infrastructure for the mine, Mr. Xu said. Other details have yet to be finalized, he said.
Separately, an official at China National Nuclear Corp. said it is in talks to build a nuclear-power plant in South Africa. A deal on that would mark the latest sign that China is gearing up to export nuclear technology at the same time as it rapidly expands its domestic reactor fleet. The talks involve the potential transfer of nuclear technology to South Africa, although nothing concrete was expected to be signed during President Zuma's visit, the official said.
China is working to become self-sufficient in advanced nuclear technology so that it doesn't need to award multibillion-dollar contracts to foreign companies to build domestic plants in the future. It is also looking at selling nuclear technology overseas in countries such as Vietnam, Belarus and Argentina.
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