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MOSCOW, Jan. 21 (Xinhua) -- Russian and Chinese companies started construction of an iron ore dressing plant Friday in the Evreyskaya Autonomous Oblast to provide high-grade iron ore to the Asia Pacific region, including China.Yury Makarov, chief executive officer of IRC Ltd., told Xinhua the plant would reach its designed capacity in 2013 at 10 million tons of iron ore and 3.2 million tons of iron ore concentrates, which contain up to 65 percent iron.Makarov said that 20 percent of the iron ore concentrates, which are natural iron ore processed through crushing, grinding and dressing, would be used to meet demands of Russia's far east and the rest would go to the Asia-Pacific market. Currently, China imports large amounts of concentrates from Brazil, Australia and India."We are very open to interaction with various countries of the Asia-Pacific region, especially China. The volume of processed iron ore has been increasing every year. We will be happy to deliver iron ore to your companies as well as any other consumers who are willing to purchase our products," he said.The plant will draw its resources from the Kimkanskoye and Sutarskoye deposits and send its products through the Khabarovsk Krai and the Suifenhe port to China.The plant is only 7 km from the Trans-Siberian Railway. A railway bridge is being planned between Evreyskaya Oblast and Heilongjiang to further shorten the supply route.Total investment in the plant is 400 million U.S. dollars, with 340 million in loans from the ICBC (Industrial and Commercial Bank of China) in China. Interest under the facility will be charged at 2.8 percent above LIBOR per annum. The China National Electric Engineering Co, Ltd is tasked with the construction of the plant.Makarov said he was very optimistic about the future of the plant and the development of relations between the Russia's far east and China's northeastern region.IRC Ltd. is a metal unit of Russian gold miner Petropavlovsk PLC. It became the second Russian company to be listed on the HK stock exchange, when it started trading on Oct. 21.

SAN FRANCISCO, March 7 (Xinhua) -- The world's leading hard rive producer Western Digital Corp. on Monday announced that it has agreed to buy Hitachi Ltd.'s hard disk drive unit for about 4. 3 billion U.S. dollars, a move that will create a dominant player in the industry.Western Digital said that it plans to acquire Hitachi Global Storage Technologies, a wholly-owned subsidiary of Hitachi Ltd., in cash and stock.The proposed combination will result in a customer-focused storage company with the industry's broadest product lineup backed by a rich technology portfolio, Western Digital said.According to their agreement, the resulting company will retain the Western Digital name and remain headquartered in Irvine in the U.S. state of California.The transaction has been approved by the board of directors of each company and is expected to close during the third quarter of 2011.With the purchase, Western Digital will claim 49.6 percent share of global hard disk drive unit shipments based on latest quarterly statistics, compared to 29.4 percent for Seagate Technology LLC, the industry's No. 2 supplier, research firm iSuppli pointed out.The deal will give Western Digital a lead of 20.2 percentage points over Seagate, up from a mere 2 points without the acquisition, iSuppli said in a research note released Monday.The acquisition will also allow Western Digital to enter the critical enterprise hard disk drive segment, where it currently is only a marginal player.Analysts believed that the purchase might be a consequence of declining hard disk drive shipments, which are being impacted by the rising sales of tablet computers, which don't use hard disk drives and are cutting into the sales of mobile PCs, a major market for hard drives."Amid weaker industry conditions, organic sales growth is more difficult to achieve, prompting hard disk drive suppliers to engage in acquisitions to gain market share," iSuppli noted.

SYDNEY, May 24 (Xinhua) -- Australian soldiers and contractors in Iraq might have been exposed to blood-borne diseases such as HIV or hepatitis, as staff at Defense's main hospital unit in the Middle East failed to sterilize surgical equipment properly, local media reported on Tuesday.Fairfax newspapers reported the safety breach occurred at the AL Minhad Air Base in the United Arab Emirates over a 19 month period, from February 2009 to August 2010, but soldiers were alerted to the problem only a week ago.A Defense Department memo to troops has warned that soldiers and contractors who passed through the air base hospital near Dubai should ensure they had their blood screened, The Sydney Morning Herald reported."Personnel who underwent a surgical procedure during that period are possibly at risk of acquiring a blood-borne disease," the memo said.However, the health alert says the risk to Australian Defense Force personnel is low, as blood-borne diseases within the force are rare and personnel are vaccinated against hepatitis.The Defense Force's Surgeon-General, Major General Paul Alexander, wrote the "internal procedural issue" was dealt with by the health system and measures were put in place to prevent a repeat of the error.

MADRID, Jan. 24 (Xinhua) -- The Spanish branch of Industrial and Commerce Bank of China (ICBC) was officially inaugurated in Madrid Monday.ICBC President Jiang Jianqing, Spanish Minister of Industry, Tourism and Commerce Miguel Sebastian and Chinese Ambassador to Spain Zhu Bangzao attended an inaugural gala dinner here.In a speech, Jiang thanked the Spanish government and authorities for allowing the ICBC to open in Spain and highlighted the importance of the Spanish economy and the close relations between the two countries.Sebastian said Spain welcomes the arrival of the biggest Chinese bank, which would further improve the already good relationship between the two counties.The Madrid branch is to provide a wide range of financial services to 166,000 Chinese nationals living in Spain.ICBC has a total of 386,723 employees and 162 foreign branches throughout the World.

WASHINGTON, April 11 (Xinhua) -- In the first clinical trial of gene therapy for treatment of intractable pain, U.S. researchers from the University of Michigan's Department of Neurology observed that the treatment appears to be able to provide substantial pain relief.In a study published online in the Annals of Neurology and seen on Monday, the researchers showed that the novel agent NP2 is safe and well-tolerated. In addition, measures of pain in the treated patients suggested that NP2 may provide a substantial analgesic effect.NP2 is a gene transfer vector that expresses the naturally- occurring opioid peptide enkephalin. In preclinical work in animals, David Fink, chair of the Department of Neurology, and his coworkers had demonstrated that injection of NP2 into the skin reduces pain in models of pain caused by nerve damage, inflammation or cancer.In the clinical trial, 10 patients with unrelenting pain caused by cancer were injected with the gene transfer agent in the area of skin related to the location of pain."The concept underlying this therapeutic approach is that injection of NP2 into the skin results in uptake into the nervous system and the production and release of a pain-relieving chemical in a controlled site in the pain pathway," says Fink. "In the study, patients who received the low dose of vector showed little reduction in pain; patients receiving the higher doses showed a greater than 80 percent reduction in pain over the course of four weeks following treatment."Fink's laboratory has been working on the use of modified herpes simplex virus-based vectors that are taken up by sensory nerves following skin injection to develop therapies for diseases of the nervous system for more than 20 years. Patents related to this technology have been exclusively licensed by Diamyd Medical, a publicly-traded Swedish biotechnology company that sponsored the trial, and the human-grade vector NP2 was produced by Diamyd, Inc, the U.S. subsidiary of Diamyd Medical.A phase 2 trial to compare NP2 to a placebo control has already been initiated under sponsorship from Diamyd.