Historical Events

1.China Polaris Signed the Acquisition Agreement in Nigeria

In May, 2014, China¡¯s Premier Li Keqiang visited Nigeria. Under the witness of Premier Li Keqiang and President Jonathan as well as other government representatives from both sides, China Polaris signed the ¡°Investment Agreement for Acquisition of Nigerian Mines¡± with the Nigerian partners. This historical moment attested China Polaris¡¯ strategy of internationalization£¬marking the major adjustment in the international investment center of China Polaris in the world. Premier Li Keqiang expressed congratulation to the company and his sincere wish for China Polaris to embrace a bright future in Nigeria.

2.The First Rare-Metal Production Project in Nigeria Has Been Initiated

In the beginning of 2014, China Polaris fully launched the construction of the first Rare-metal production project in Nigeria.

3.China Polaris met the Minister of the Federal Ministry of Mines and Steel Development

Zhang Wendong, CEO of China Polaris, met the minister of the Federal Ministry of Mines and Steel Development in December, 2013. Both parties reached an agreement on the affairs of China Polaris¡¯investment in Nigeria on the basis of full discussion and understanding. The Minister said that China Polaris is welcome to invest in Nigeria and it will be supported by Nigerian government in all aspects. Nigerian officials appreciate that China Polaris brings advanced technology from China; they also hope the company could settle in Nigeria and make a great example for all Chinese enterprises.

4.The CEO of China Polaris met the Chinese Ambassador and Counselor of the Embassy in Nigeria

In June, 2014, Zhang Wendong, CEO of China Polaris, met the ambassador Gu Xiaojie and Counselor Zhou Shanqing of Chinese embassy stationed in Abuja, Nigeria. Ambassador Gu Xiaojie introduced the policy and environment of foreign investment, the development of Chinese enterprise in Nigeria and the public security. Counselor Zhou Shanqing made detailed description of the economic and trade situation in Nigeria and China¡¯s policy and technology support for mining and energy resource.
In August, 2013, Zhang Wendong, CEO of China Polaris, met the current ambassador Gu Xiaojie and Counselor Zhou Shanqing of Chinese embassy stationed in Abuja, Nigeria. The ambassador and counselor said that China Polaris, one of the most outstanding companies in China, has made a great decision to come to Nigeria for minerals and energy resources investment and development, which would undoubtedly bring acceleration to Nigeria¡¯s economic and social development. They also expressed that both Nigeria and China would attach great importance to it and hope China Polaris could become a bridge and bond of friendship between the two countries.

5.China Polaris met the Minster of Nigerian National Land Administration Bureau

In Sept, 2013, Mr. Zhang and the company¡¯s geologist team met the Minister of Nigerian National Land Administration Bureau. The minister gave affirmation about investment documents, mining license and geological exploration results, etc. As for the project of mineral and energy resource investment in Nigeria, the Minister said that the company¡¯s investment in Nigeria will be protected in all aspects. The MOU signed in Beijing is true and valid. The legal documents and tenement licenses are subject to the provisions of Nigerian Government and have been filed in the relevant departments. Nigerian government would like to render all possible assistance on the premise that is permissible by the Nigerian laws and regulations.

6.Experts Evaluation on the Tantalum-niobium Ores in Nigeria

Hosted by Mr. Zhang, China Polaris convened a meeting to assess Nigeria investment project in July, 2013. In the meeting, relevant matters including investment scope and amount, technology, construction affairs and the Nigerian policy support to our investment have been discussed and approved. In June of the same year, we got the second Exploration License of gold in Guangxi province, China.

7.China Polaris and Nigerian party concerned signed the MOU

The CEO of China Polaris, Zhang Wendong, signed the¡°Nigerian Mining Investment Memorandum¡± with Nigerian party concerned in May, 2013.This complete success marked the first step of China Polaris¡¯s plan of engaging in global energy resource and mining industry. According to the MOU signed, China Polaris will expand investment in Nigeria from Mineral, including the Precious metal, nonferrous metal, rare metal and nonmetal, and Energy Industry to the downstream fields such as the Iron and Steel Industry, Chemistry, Power Sector as well as Infrastructure Construction Industry.

8.Experts of China Polaris went to Nigeria for Field Investigation

In order to ensure the investment security, China Polaris had repeatedly appointed experts to carry out field investigation of the mineral resources in Nigeria. After the field investigation and lab analysis, the top of company organized a team composed by experts and business team to Nigeria to negotiate about detailed provisions of cooperation.

9. Nigeria Modified the Minerals and Mining Act

In 2011, the Nigerian Mining and Steel Industry Development Ministry carried out the Mineral and Mining Act, compared with previous versions, the new regulation puts more emphasis on the protection of foreign investors. In addition, more rules for the application and development of mineral rights were also made.