Abundance Minerals Pte Ltd (“Abundance Minerals”), a Singapore-based minerals exploration & mining company that is active in commodity trading specializing in precious metals and minerals such as Gold, Iron Ore, Pig Iron, Manganese, Coal, Copper and Cobalt has signed a Strategic Alliance Agreement with Chery Global Industry Co. Ltd (“Chery Global”), a 100% subsidiary of Chery Automobile Co., Ltd, one of the fastest growing automobile manufacturer in China to accelerate growth.
The unprecedented development seen in China and India has created a strong demand for commodities and it is anticipated that shortage for raw materials will continue for a long time. Under the terms of agreement, the alliance aims to increase sales in China and India forging a joint strategy in supplying the market with competitive, high-quality metals and minerals from India, China and Africa.
Chery Global operations office with Abundance Minerals in Singapore will begin soon and a joint office will be established in Shanghai after that. Commenting on the agreement, Mr. Chen Hsee, Chairman-Director, Abundance Minerals said, “Seeing the potential of a long-term partnership after a number of successful off take agreements in iron ore and manganese, this alliance is naturally seen as the next logical step to accelerate our activities in the market. The timing of the collaboration is exceptional as interest in this nascent market develops, volumes continue to grow and participants increasingly look to ensure continual supply of commodities as market face a tighter supply of raw materials.“
If you’d like more information about this topic, or to schedule an interview, please contact
Mr. Reuel Turgo Ramos - reuel[.]abundanceminerals.com or Ms. Linda Wen - wensongying[.]mychery.com
About Chery Automobile Co., Ltd
Chery Automobile Co., Ltd. (cheryinternational.com) was founded in 1997 by five of Anhui’s local state owned investment companies with an initial capitalization of RMB 3.2 billion. Plant construction commenced on March 18, 1997 in Wuhu, Anhui Province, China. The first car came off the production line on December 18, 1999. And on August 22, 2007, the one-millionth car of Chery rolled out the assembly line successfully, which signifies that Chery has already achieved its first-stage goal in the process of building a successful independent Chinese brand, and is now on its way to createa world famous brand through opening and innovation.
About Abundance Minerals Pte Ltd
Abundance Minerals Pte Ltd (abundanceminerals.com) is a Singapore incorporated company, whose shareholders have collective experience in the mining, banking and finance, and trading and manufacturing industries. The company has a purpose of exploration, feasibility, project development and ultimately to full production of mineral investment opportunities in Africa region. Focusing on increasing shareholder’s wealth through aggressive exploration, the management team has established long standing political relations with the governments in Singapore and Africa. Abundance Minerals owns several mining assets in Africa. In addition, Abundance has strong business dealings and contacts with state owned mining and refinery companies in India and Africa. The Company business activities have involved gold and manganese exploration having its current focus in the Africa region and also considering strategic investments in iron ore mines in India.