Cavico Vietnam Co. Ltd. has hooked up with Lao partners to explore and exploit copper ores in Hom district of Vientiane province.
Agreements to this effect were signed in the Lao capital city of Vientiane on April 22 between Cavico Vietnam and representatives from the Lao Government, Ministry of Planning and Investment, Ministry of Energy and Mining, and the Muang Hom Mining Company.
Under the terms of the agreements, Cavico will contribute 78 percent of the project’s preliminary investment of 30 million USD, while the Muang Hom Mining Company will hold a 20-percent stake and the rest shouldered by the Laoyoung Chaleun Co. Ltd.
The investors will have six years ahead to fulfill research, exploration and reserve surveys, and technical economic study, which are estimated to cost 4 million USD.
Cavico Vietnam General Director Pham Minh Phuc pledged to carry out the project on schedule in compliance with the inked contracts and Laos law./.