19/03/13

GPB Global Resources to Intensify Business in Chad

Meeting in Chad

On March 13, 2013, His Excellency General Idriss Déby Itno, President of the Republic of Chad, met with Boris Ivanov, Managing Director, GPB Global Resources. The parties discussed the development of gold mining projects in Chad and opportunities to intensify business cooperation between Russia and Chad.

Boris Ivanov underlined GPB Global Resources' contribution to strengthening bilateral relations and investing in Chadian resource projects. In particular, the parties noted significant progress in the Ganboke project implemented by GPB Chad Minerals SARL (GPB Global Resources Group). The Company performs active field works, including trenching, sampling and core drilling operations in full accordance with the work program.

In addition to the strict fulfillment of the License obligations, GPB Chad Minerals SARL (GPB Global Resources Group) would also provide for social and economic development of the region, following its Corporate Social Responsibility policy, added Boris Ivanov.

Reference

GPB Global Resources Group is an international group of companies, engaged in petroleum and mineral resource projects in various parts of the globe, including Africa, South America, and the Middle East. Today it operates in Chad, Mali, Niger, and Venezuela.

GPB Chad Minerals SARL (GPB Global Resources Group) was established in December 2011 to represent Group’s interests in the Republic of Chad. In January 2012 the Ministry of Geology and Mines of Chad and GPB Chad Minerals SARL signed a 5-year License Agreement to perform exploration works near the locality of Ganboke in the region of Mayo-Kebbi Ouest. In February 2012 His Excellency General Idriss Déby Itno, President of the Republic of Chad, signed a decree enacting the License Agreement.