NEWS
1 March 2005
Sinoafrique and Maxigor Oilcom Limited sign a joint venture agreement
for the exploitation and marketing of iron ore, chrome and coal from Sinoafrique's
mines in Colombia, and on joint marketing and trading of crude oil allocations
held by Maxigor Oilcom.
3 February
2005
Sinoafrique enters into formal negotiations for capital participation
in a coal to liquid fuels processing facility in Guajira, Colombia. The
facility is slated to produce around 50,000 barrels of diesel, and a similar
quantity of gasoline. The facility will take 3 years to complete. Spanish
news report can be accessed here. 
2 February
2005
Sinoafrique Group acquires 100% OF Colores & Minerals Ltda., a Colombian
based mining and exploration company. Colores holds a number of mineral
exploitation rights across Colombia, and is currently exploiting iron
ore, chrome, managnese and coal. The Sinoafrique Group will inject capital
into the mining operations, and a feasibility study has been launched
for the development of deep water ports suitably located for the rapid
loading and shipping of materials. 
21 December
2004
Sinoafrique Group signs a cooperative agreement with Maxigor Oilcom Limited
for joint marketing of crude oil allocations held by Maxigor. The synergies
of the two companies are obvious and each can benefit from the strengths
of the other.
