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MIIC & MNEMIIF Opening Ceremony Held in Beijing

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On May 9, the kick-off meeting & opening ceremony of Minmetals Innovative Investment Co., Ltd. (MIIC) & Minmetals New Energy & Materials Industrial Investment Fund (MNEMIIF) was held in Beijing. Mr. Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman and Party Committee Secretary, attended and addressed the kick-off meeting. China Chengtong Holdings Group President and Deputy Party Secretary and Chairman of China Structural Reform Fund (CSRF) Zhu Bixin, Deputy Secretary of Beijing Dongcheng District Party Committee and Acting District Head Jin Hui, Vice President and Chief Investment Officer of CCB Trust Co., Ltd. (CCB Trust) Wang Yeqiang, Deputy Secretary of Ningbo Yinzhou District Party Committee and District Head Chen Guojun and others attended the ceremony and witnessed the signing of the contract of the MNEMIIF.

As the only state-owned capital investment company in the metal mining industry, China Minmetals,under the guidance of the innovation-driven development strategy of the Central Committee of the CPC and the State Council and China Minmetals’ strategic vision for building itself into a “world-class metals and minerals corporate group”, initiated the establishment of MIIC and MNEMIIF, representing an important measure for actively exploring the functions of state-owned capital investment company. After more than one year of careful preparations, under the support and assistance of the government of Dongcheng District of Beijing and the government of Yinzhou District of Ningbo and thanks to the joint efforts of China Structural Reform Fund and CCB Trust, etc., MIIC Management (Ningbo) Co., Ltd. & MNEMIIF was officially inaugurated on May 9.

At the kick-off meeting, Mr. Guo, on behalf of China Minmetals, welcomed the leaders and guests, and expressed his thanks for their supports to the preparations for the establishment of MNEMIIF, and introduced the development the company after it strategic restructuring from two Fortune Global 500 companies, namely the former China Minmetals and China Metallurgical Group. He pointed out that, after the strategic restructuring, China Minmetals has taken the lead in running a whole industrial chain ranging from resources acquisition, exploration, design, construction, mining, ore dressing, smelting, logistics, and trade in the global metal mining sector. He noted that China Minmetals, as the only state-owned capital investment company in the metal mining sector of China, shoulders the mission of ensuring China’s supply of metal resources and is committed to building itself into a world-class metals and minerals corporate group. With full licenses in finance services, China Minmetals and China Metallurgical Group are amongst the 16 central SOEs authorized to have real estate as main business by the State-owned Assets Supervision and Administration Commission. China Minmetals has now a total asset of RMB1.68 trillion and a workforce of 200,000. At present, China Minmetals is making significant strides towards achieving its goal of “quadrubling the business revenue in three steps”, establishing a multi-pillar business system and showing a positive development prospect.


Guo emphasized that new energy and materials represent a strategic emerging industry of China. Now, China Minmetals is focusing on the resources of materials for new energy vehicle battery and actively advancing the development of new power, successfully operating the resources of the Ramu NiCo Project (one of the world’s top three projects in nickel reserves) in Papua New Guinea, speeding up to integrate relevant domestic manganese resources, and accelerating the development of the projects related to materials of battery cathode of Changyuan Lico, Caofeidian RUMA Ternary Precursor, and China Minmetals salt lake lithium extraction. In order to give further support to the development of the new energy and new material industries, and effectively give play to the functions of state-owned capital investment company, China Minmetals took the lead in establishing MNEMIIF under the strong support of related parties. MNEMIIF will, in strict accordance with the requirements of investors, give play to the institutional advantages of the fund of limited partnership, regulate market-based operations, strictly control risks, create value for investors, and gain more returns on investment. China Minmetals will take this opportunity to establish long-term and firm partnership with all relevant parties, jointly open up greater cooperation space, and achieve mutual benefits, win-win results and common development.


At the kick-off meeting, MIIC General Manager Xiong Xiaobing reported the preparations for MNEMIIF. The participants fully recognized the preparations for the fund and made valuable suggestions on the future cooperation and the development of MNEMIIF. Also, the participants to the meeting jointly watched the advertising video of China Minmetals.


At the signing ceremony, China Minmetals Senior Vice President Li Fuli, on behalf of China Minmetals, delivered a speech. He noted that, MNEMIIF, as China Minmetals’ first private equity fund jointly established by the investors, will give play to their respective advantages of the investors, have a keen understanding of hotspot issues related to policy and grasp market opportunities, focus on the whole industrial chain of new energy and materials, fully tap the core value of the industrial chain, stick to value investment, promote industrial structural adjustment and upgrading of China Minmetals, and increase the returns on investment. China Minmetals is looking forward to strengthening cooperation with professional investment institutions under the strong support of governments at all levels, and create a bright future of MIIC and MNEMIIF with all investors guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.


Zhu, on behalf of all investment institutions, made a speech, extended his warm congratulations on the establishment of MIIC and MNEMIIF. He said that the establishment of MIIC and MNEMIIF is a important strategic measure taken by China Minmetals to promote upgrading and development of the new energy and material industry and enhance international competitiveness through market-based and professional investments. The engagement of the CSRF in the establishment of MIIC and MNEMIIF is not only in keeping with the development of China’s strategic emerging industries, but in line with CSRF’s mission of supporting central government-owned enterprises for adjusting structure and optimizing distribution. The cooperation is a starting point of the power association between and coordinated development of a state-owned capital operation company and a state-owned capital investment company. In the future, China Chengtong Holdings Group and CSRF will take the opportunity to further strengthen cooperation with China Minmetals and strive to make greater contributions to the industrial structural adjustment and transformation and upgrading of China Minmetals, so as to jointly embark on a new journey to the development in the new era.

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