MOU_20110221 - Confidential Memorandum of Understanding...

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Confidential Memorandum of Understanding among The Export-Import Bank of China Sinofert Holdings Limited China Mining United Fund And The Kawacatoose First Nation February [____], 2011 o The draft version for further discussiono
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Confidential MEMORANDUM OF UNDERSTANDING This Memorandum of Understanding (this “MOU ”) is entered into on February [___], 2011 by and among: (1) The Export-Import Bank of China (“EXIM ”), a wholly state-owned policy bank incorporated under the laws of the People’s Republic of China (“China ”), with its registered office at 30 Fuxingmennei Street, Xicheng District, Beijing, 100031, China; (2) Sinofert Holdings Limited (“SINOFERT”), a subsidiary held by the Sinochem Group Corporation, with its registered office at 29 Fuxingmennei Street, Xicheng District, Beijing, 100031, China; (3) China Mining United Fund (“CMU”), a company duly incorporated in China of floor 5,South Building of Zhonghai Mansion, Jianguomenwai Street, Chaoyang District, Beijing; (4) The Kawacatoose First Nation The above parties may be referred to hereinafter individually as a “Party ” (or any Party) and collectively as the “Parties ”. Whereas : A. The Parties are aware of the potash mineral resources reserved in the Kawacatoose First Nation land, but all the resource calculation for the Kawacatoose First Nation land based on historic well is very immature and does not meet the requirement of 43-101 regulation. B. From January to February of 2011, the EXIM and the CMU have jointly studies the Potash Project in reserve land of the Kawacatoose First Nation, which covers an area of approximate 150 km 2 in Saskatchewan. The SINOFERT, the EXIM and the CMU plan to invest in the Potash Project of such reserve land and have negotiated with the First Nation chief and counselors of Kawacatoose and the geological experts. C. The Parties executing this Agreement will jointly develop the Potash resource in the Kawacatoose First Nation land and guarantee the long-term benefits of the Parties. Now, therefore , the Parties agree as follows: 1. Project Initiation 2
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Confidential 1.1 Upon execution of this MOU, the CMU will pay US$500,000 in installment to the Kawacatoose First Nation band. Such fund will be used to complete the following matters: completion of the referendum by all Kawacatoose aboriginal people (including aboriginal people living in the local area and those that have moved out of the area, regardless of wherever they live for the present); and completion of procedures for approval and environmental evaluation under the federal aboriginal land administration laws. 1.2 The SINOFERT, the EXIM and the CMU will be the cooperative partners to explore and develop the mining resource in reserve land of the Kawacatoose First Nation of Canada, and will form a joint venture with the Kawacatoose First Nation within the time limit as set forth in the Appendix 1 to arrange the launch of the exploration and development work. 1.3
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This note was uploaded on 04/03/2011 for the course CHINESE 430 taught by Professor Chen during the Spring '11 term at University of Regina.

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MOU_20110221 - Confidential Memorandum of Understanding...

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