April 8, 2009 Mondo Minerals B.V. announced the signing of a Joint Venture Agreement with the
Beihai Group in Hong Kong. Mondo Minerals B.V. will receive several benefits through the joint venture by reducing
its dependence on the Finnish talc mines and imported raw materials, as well as expanding production to include high grade
talc reserves in the Haicheng District. This will allow easier distribution of Mondo’s talc products
to new and current customers throughout China and nearby countries.
The
Beihai Group will gain knowledge of Mondo’s mining, mineral processing, product development, quality control and marketing
processes which will position the joint venture to be more competitive in quality, environment-friendly talc products, and
costs. This is the first foreign-owned talc company in China that directly controls substantial high grade talc reserves.