Chinese companies yesterday signed 16 contracts with 11 African nations to buy minerals and build infrastructure, making up the country's biggest investments on the continent.

Chinese parastatal Sinosteel committed to investing in a $230 million (R1.7 billion) ferrochrome mine and smelter project with South Africa's Samancor while Citic Group, China's biggest state-run company, will build a $938 million aluminium smelter in Egypt, according to contracts worth a total $1.9 billion signed during the China-Africa summit in Beijing.

China is increasing investment in Africa as it seeks more supplies of oil, iron ore and other resources to propel the world's fastest-growing major economy. President Hu Jintao also pledged to double aid to Africa in three years by extending more credit and waiving tariffs on more of its exports to strengthen economic and political ties.

Chinese foreign minister Li Zhaoxing said: "We want to open new avenues for investments for mutual benefits. We want to contribute to the economic development of African countries."

About 1 500 Chinese and African companies discussed investments and co-operation in various industries, and Wan Jifei, the chairman of the China Council for the Promotion of International Trade, said the China-Africa Joint Chamber of Commerce had been established to promote trade.

China is targeting projects in nations such as Angola, Libya and Nigeria, in order to satisfy its demand for oil, which has almost doubled in a decade. It has projects in South Africa and Egypt for iron ore and aluminium. China is the world's biggest producer of steel and aluminium and the largest importer of iron ore.

China Nonferrous Mining will build a $200 million copper smelter in Zambia next month. The venture will turn concentrates from the Chambishi mine into 150 000 tons of copper annually for export to China.

China's relations with Africa were of "vital value" to the international community, said Ethiopian foreign minister Ato Seyoum Mesfin. "It's also a predictable partnership, where one can count on the other, with no political strings, serving the interests of all parties."

The leaders ended the summit by declaring the formation of "a new, strategic partnership based on equality, mutual trust and benefits" and called on the global community to respect diversity.