China Magnesium Corporation Limited announced that it has executed a conditional, non-binding Heads of Agreement (Agreement) with Sovran White International Pte. Ltd. (Sovran White) to form a joint venture providing management services, and holding exclusive export rights in relation to, an agricultural co-operative based in Yiyuan County, Zibo City, Shandong Province. The Yiyuan County Growers Co-Operative (Co-operative) is owned and operated by a Foreign Investment Partnership Enterprise (FIPE) which was formed between Sovran White and Shandong Luxi Hi-Tech Park Development Co. Ltd, a company owned by the Zibo Municipal Government (ZCG) in May 2018.