“During our trade and investment mission to the People’s Republic of China in October 2014, we signed Memoranda of Agreement with big investors.
“The first MOU was signed with Hong Kong Mining Exchange Company (Hoi Mor) for the establishment of South Africa Energy Meturlligical Base Project,” he said at the State of the Province Address (SOPA) at the Lebowakgomo Legislature on Tuesday.
The project, which has an investment value estimated at R38.8 billion, will be based in the Musina Special Economic Zone, and will create 19 000 direct jobs over a period of three years.
The Hoi Mor investment will result in beneficiation that integrates various resources and reduce the export of raw materials in favour for exporting beneficiated goods.
The South Africa’s Women Investment Holdings has entered into a joint venture agreement with Jidong Development Group and China Africa Development Fund for a R1.65 billion investment into cement manufacturing, which will be based in Thabazimbi.