On 30 June 2026 in Sofia, GEOTRADING and CITIC Heavy Industries signed a Memorandum of Understanding (MoU), marking the beginning of a strategic partnership aimed at developing sustainable and efficient supply chain solutions for the mining industry.
The Memorandum was signed by Rumyana Ivanova, Chief Executive Officer of GEOTRADING, and Liu Tao, Deputy General Manager of CITIC Censa, part of CITIC Heavy Industries.
The Memorandum establishes the framework for cooperation between GEOTRADING and CITIC Heavy Industries by combining GEOTRADING’s proven expertise in the mining industry, in-depth knowledge of regional markets, and long-standing relationships with industrial partners with CITIC Heavy Industries’ manufacturing capabilities, international logistics network, and financial strength.
Its signing is a natural continuation of GEOTRADING‘s long-term development strategy, consistently pursued for more than 21 years under the leadership of the Company’s Co-Founder and Chairman of the Board of Directors, PhD Eng. Ivan Vutov. This vision has established GEOTRADING as a preferred international partner, creating a solid foundation for sustainable cooperation with leading global companies built on trust, professionalism, and shared objectives.
The partnership is focused on building a reliable and competitive supply chain for the mining industry. It covers the supply of mining equipment, machinery, spare parts, components, and consumables, as well as the development of integrated logistics solutions connecting Asian manufacturing markets with Europe. The parties also envisage joint initiatives in technical support, after-sales services, financing, and the optimisation of procurement and logistics processes.
The agreement is founded on the principles of long-term cooperation, mutual trust, transparency, and sustainable development, while adhering to high standards of corporate governance, ethics, and compliance with international regulatory requirements. It also provides for the establishment of a Joint Coordination Committee, responsible for defining strategic priorities, coordinating joint initiatives, and supporting the preparation of specific commercial agreements.
GEOTRADING and CITIC Heavy Industries have made a shared commitment to developing responsible supply chains, implementing ESG best practices, promoting responsible sourcing, and complying with international standards for safety, quality, and corporate responsibility.
The agreement marks a new chapter in international cooperation for the development of the mining sector in Bulgaria and Southeast Europe. It expands access to global manufacturing and logistics networks, promotes technological exchange, and creates new opportunities to enhance the sector’s competitiveness. Through this partnership, GEOTRADING further strengthens its position as a preferred international partner for leading companies in the industry.
The meeting was also attended by Arturo Otero Gómez, Commercial Director of CITIC Censa, part of the CITIC Heavy Industries Group, together with representatives of GEOTRADING’s management and expert teams: Stanislav Delchev, Anatoliy Babachev, Ivan Donchev, Petar Dobrev, Tsvetan Stoyanov, and Vladimir Sokolov.
