China and Russia signed eight agreements in Beijing on Thursday to boost bilateral investment, trade, and technical cooperation. The signing of the agreements, covering sectors such as trade, energy, car production, and the development of infrastructure, marked the beginning of the third Sino-Russian Investment Promotion Week, in which over 600 representatives of Russian and Chinese companies take part. This investment forum winds up a Year of Russia in China started in January. Among forum's participants are representatives of Tuva: first Vice-Prime-Minister Alexandr Brokert and Minister for Exterior Links Yelena Kara-sal.
The contracted investment volume from the Chinese side is 800 million U.S. dollars. Zhang Xiaoqiang, Vice Director with the State Development and Reform Commission, said the government encourages Chinese firms to engage more in the joint exploration of ores of iron, zinc, lead, and copper in regions such as Chita Oblast, and Tuva Republic.
Before his departure for China Brokert spoke of his plans to sign an agreeement on the cooperation with a Heiluyzian province in which Chinese company 'Lunsin' is currently based.
At the tender conducted in April this year by Tuva Agency of Mineral Resources then-the Novosibirsk-based company with Chinese capital 'Lunsin' Ltd. won by bidding RUR742.5 million for the right to develop Kyzyl-Tashtyg complex ore deposit.
In accordance with the terms offered by the applicant the company is to deposit RUR270 million (100% of the start one-off payment). The auction step was RUR13.5 million. Financial dispute for the Tuva deposit was between Director of Perspektiva Ltd. Mikhail Malyarenko and Director General of Lunsin Ltd. Lin Shude.
Kyzyl-Tashtyg complex ore deposit is situated 70 km to the south of the Todzha district of Tuva. Chinese representatives, during their visit to Tuva in August this year, confirmed their descision to explore a deposit rich in zinc, lead, copper etc.
The Todzha people are preoccupied with a possibly large influx of Chinese labour force.
