On September 4th, the handover ceremony of 60% share in Zara Mining Share Company purchased by China SFECO Group was held at conference hall, 20th floor, SCG Mansion in Shanghai. Mr. Tong Jisheng, chairman of SFECO and Mr. Tim Goyder, executive director of the board of Chalice Gold Mines Limited, signed the equity handover agreement, which marked the completion of the 9 month equity acquisition.
Mr. Xu Zheng, both chairman and president of Shanghai Construction Group, Mr. Zhang Linfa, president of China SFECO Group and Mr. Doug Jones, executive director of board of Chalice Gold Mines Limited attended the signing ceremony.  
Following the smooth implementation of Eritrea Machinery Supply Phase I and the conclusion of contracts of Agriculture Development Project, Machinery Supply Phase II and Hirgigo Power Plant Extension Project, this equity acquisition marked further business development in Eritrea. It is also a new attempt by SFECO to promote business model transition and creation in overseas market.