Ha Noi (VNA) – The Hoa Phat Group and the Minerals Corp of the Viet Nam Coal and Minerals Group have signed an agreement for long-term cooperation, aiming to become each other’s strategic partner by 2010.

Under the agreement, the two sides committed to using each other’s products and services and joining hands in investing in mining.

The Minerals Corp and the Hoa Phat Group will apply for licences for joint exploitation in several mines.

They also agreed to cooperate in mining activities in Laos and Cambodia .

Hoa Phat General Director Tran Tuan Duong said the agreement was an important step of the group’s plan to secure material supply for its steel complex project which is scheduled to be operational in 2009.

The Minerals Corp is a leading affiliate of the Coal and Minerals Group with some large plants, including the Song Cong Zinc Plant with a capacity of 1,000 tonnes per year, the Thai Nguyen Steel Plant with 20,000 tonnes per year, and the Cao Bang Steel Plant with 220,000 tonnes of steel ingot per year.-Enditem