New Times Energy Corporation Limited, headquartered in Hong Kong, is a natural resources company engaged in the acquisition, development and operation of mineral and oil and gas projects. Previously centered on trading general consumable goods, it was moving into natural resources projects in geologically favorable regions with existing production and growth potential.
Since December 2009 the company had been preparing to acquire Fortune Ease Holdings Limited, which holds a 90% interest in three producing gold mines, Sanjia, Banbishan and Qingheyan, in Qinglong Manzhu Autonomous County, Hebei Province, China, with estimated gold ore resources of about 3.9 million tons containing about 20.8 tons of gold. In May 2009 it secured the Tartagal and Morillo oil and gas concessions in Salta Province, northern Argentina, covering 7,065 and 3,518 square kilometers, close to pipelines and refineries and surrounded by fields operated by companies such as Chevron.
Hong Kong: 166 · Oil and gas