Anglo American and China Development Bank (CDB) have entered into a Memorandum of Understanding (MOU). The companies say this “represents a long term commitment from both Anglo American and CDB to establish a strategic relationship to identify and develop a pipeline of natural resources projects in China, Africa and elsewhere.

Cynthia Carroll, CEO of Anglo American, said “I am delighted that Anglo American and China Development Bank will be working closely together on what we hope will be a productive relationship lasting many years. Anglo American has an extensive pipeline of projects around the world and is actively looking for further projects in China. This MOU will further enhance Anglo American’s project potential in China, Africa and other key markets.”

Chen Yuan, Governor of China Development Bank, said: “Anglo American is one of the world’s leading resources groups, with a strong portfolio of worldclass mining assets and promising projects, including several in China. With the establishment of this strategic alliance, we have become much better positioned in doing business in the natural resources industry. With the growth of the global economy, we are confident that this relationship will be mutually rewarding.”