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Tang Fuping Met with Madam Rini Soemarno, Indonesian Minister of State-Owned Enterprises

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On May 15, Tang Fuping, President of China Minmetals Group Co., Ltd., met with Madam Rini Soemarno, Indonesian Minister of State-owned Enterprises and her delegation in Beijing. The two sides had in-depth exchanges on further strengthening cooperation.

Mr. Tang extended his warm welcome to Madam Rini and introduced the development of China Minmetals in recent years. He pointed out that China Minmetals has taken the lead in opening up the whole industry chain from resource acquisition to exploration, design, construction, mining, mineral processing, smelting, logistics and trade since the strategic reorganization of China Minmetals. With this industrial chain, China Minmetals is capable of providing systematic solutions and the integrated life cycle of engineering construction and operation for metal mining enterprises. At present, the total under-management financial assets of China Minmetals amounts to RMB1.86 trillion with over RMB 500 billion in operating income ranking 109th in the Fortune 500 in 2018.

Now, China Minmetals is building a business system featured by “four beams and eight columns” regarding metal mining, metallurgical construction, trade logistics, and finance and real estate. In the field of metal mining, China minmetals with abundant metal mineral resources and various world-class mines abroad, has produced the top 10 copper and zinc and the amount of tungsten, antimony and bismuth resources in forefront of the world as well as the company has made great progress in the business field of new materials, such as cathode materials and ternary precursors in recent years. In addition, China Minmetals has long been committed to the study of the development and utilization of marine mineral resources with a leading level of deep-sea prospecting technology in the world. In the field of metallurgical construction, MCC, as a pioneer and a major force in China’s steel industry, has made up 90% and 60% of the share of domestic and global metallurgical construction markets respectively with an undoubted leading role in China’s metallurgical industry. Tang stated that Indonesia is rich in mineral resources with a large population, a broad market and a good investment environment. In the past few years, China Minmetals has built a number of mining projects in Indonesia, as well as a number of high-rise buildings and highways. In the future, there is a great deal of room for cooperation between the two sides. It is hoped that our two sides can further strengthen communication, expand and deepen the cooperation for the mutual benefit and shared development.

Madam Rini expressed her sincere gratitude to Mr. Tang Fuping for his warm reception. She pointed out that Indonesia and China Minmetals are highly complementary in the field of business cooperation with broad prospects. Indonesia has great advantages in mineral resources lack of technology while China Minmetals, as one of the best metal mineral enterprise groups in the world has advanced technology in non-ferrous metals, ferrous metal mining and operation, new energy batteries and other business fields. In addition, with the construction of Indonesia's high-speed railway, many areas are facing major development opportunities in Indonesia during the development of which such high-quality partners as China Minmetals are warmly welcomed to participate actively in the fields of mineral resources development, new energy batteries, infrastructure construction and real estate with mutual efforts.

At the meeting, the two sides also exchanged views on topics of common concern.

Jiao Jian, Deputy General Manager of China Minmetals, Gador and Faga, Vice Ministers of Indonesian State-owned Enterprises, and Vianda, Special Staff Officer of the Minister, attended the meeting. The heads and representatives of the Indonesian Ministry of State Enterprises, Indonesian Aluminum Group, PT Antam Tbk, PERTAMINA, JPMorgan Chase, BNI participated in the meeting, together with the relevant personnel from the Department of International Business Management of China Minmetals, MCC, Minmetals International and Minmetals Development.

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