News Release

NFC and PT DPM Sign Dairi Lead-zinc Mine EPC Contract

Source:NFC    Publish Date:2014-4-21

Mr. Wang Hongqian and Mr. Wangxinyu signed Dairi Lead-zinc Mine EPC Contract on behalf of NFC with Indonesian company PT Dairi Prima Mineral (PT DPM) in Jakarta, April 17, 2014. Chargé d'affaires of Chinese Embassy to Indonesia Liu Hongyang delivered address at the ceremony. A high delegation composed of leaders from China Export and Credit Insurance Corporation, Bank of China and Industrial and Commercial Bank of China attended this event. Vice-president of NFC Ma Jinping also witnessed the memorable moment.

According to the contract, NFC will undertake the construction of Dairi lead-zinc mine project as EPC contractor. The project, owned by PT DPM, is located at Sumatera province, consisting of a mine and a concentrator with capacity of 1,000,000 t/a of lead-zinc ore, as well as auxiliary facilities. The 632 million USD contract has a construction period of 42 months. A concentrate offtake frame agreement is signed at the same time.

Before the ceremony, Mr. Wang Hongqian met chairman of PT BUMI resources Nirwan Bakrie at BUMI Group headquarters. Mr. Wang briefly introduced NFC’s achievement over the 3 decades and its operation model based on international engineering contracting and mining investment, covering the whole of nonferrous metal industrial chain. Fully recognizing this model, Mr. Bakrie regarded NFC as a valuable partner in developing BUMI’s mining sector. BUMI is confident with NFC’s participation into the contracting and investment of Dairi project, looking forward to its start-up and completion as soon as possible.

During the stay in Indonesia, Mr. Wang also visited chargé d'affaires Liu Hongyang at Chinese Embassy. Mr. Liu highly appraised NFC’s previous achievement and its development strategy in Indonesia, encouraging NFC to make Dairi a model project of Sino-Indonesian cooperation in this field, building fame of renowned Chinese enterprises in Indonesian mining industry.