Xiamen Tungsten Co. Ltd. said May 11 that it signed a partnership agreement with China Tungsten and Hightech Materials Co. Ltd. to advance collaboration in resource exploration, processing and other operations.

The companies are in discussions to finalize details of the partnership, which aims to establish a platform for overseas expansion and to set up long-term, stable trade relations between the companies for products ranging from tungsten concentrates to tungsten oxide.

Xiamen Tungsten expected the partnership with China Tungsten, a Shenzhen-listed unit of state-owned China Minmetals Corp., to accelerate its "going out" strategy and to increase the scale and efficiency of resource development plans abroad.