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Mr. Guo Wenqing Met With Chairman of Jinchuan Group Mr. Wang Yongqian and his Delegation

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On July 10, Mr. Guo Wenqing, China Minmetals' President and Party Group Deputy Secretary and MCC Chairman met with Mr. Wang Yongqian, Chairman and Party Committee Secretary of Jinchuan Group Co., Ltd. ("Jinchuan Group"), and his delegation. The two sides had in-depth communication on the strategic cooperation and industrial coordinated development of the mining fund.

Mr. Guo Wenqing showed hospitality to Mr. Wang Yongqian and his delegation, and briefly introduced the development of China Minmetals and MCC (which rank among the world's top 500 companies) since their strategic restructuring. Mr. Guo Wenqing pointed it out that as one of the first batch of companies invested by state-owned capitals in China's metal mining industry, China Minmetals had been moving towards the goal of building a world-class metal mining enterprise. At present, the total assets under China Minmetals' management amounted to RMB 1.85 trillion, and over 200,000 employees were on the job, shouldering the glorious mission of guaranteeing the supply of national metal resources. In 2018, China Minmetals' operation revenue exceeded RMB 520 billion, and its profits hit a record high.

Mr. Guo Wenqing emphasized that as a metals-based enterprise, China Minmetals objectively faced with the rigid constraints of limited mineral resources. In recent years, China Minmetals has done researches and explorations in the field of metal & mineral resources based on domestic and international markets. It had actively promoted the industrial integration and upgrading in solving the problem of "big scale but relatively poor strength", having remarkable achievements. As well-known mining groups in China, China Minmetals and Jinchuan Group had a common goal of becoming bigger and stronger in the international and domestic industries. The two sides may strengthen cooperation in mining and related fields by developing joint mining funds for win-win development. It was hoped that the two sides would have closer communication and exchanges, further study and refine specific plans, and strive to establish a mining fund as soon as possible to jointly make new and greater contributions to the high-quality development of China's metal mining industry.

Mr. Wang Yongqian expressed his gratitude to Mr. Guo Wenqing's hospitality as well as China Minmetals and MCC's long-term support to Jinchuan Group, and introduced the business development of Jinchuan Group in recent years. Mr. Wang Yongqian said that Jinchuan Group and China Minmetals had the same investment philosophy in the field of metal mining, and had common goals in mineral resource development and business development in both domestic and international markets. Jinchuan Group would strengthen communication with China Minmetals, to establish mining funds, strengthen cooperation in fields such as project development, capital integration and social capital leverage, and jointly promote the establishment of strategic cooperation between the two sides.

Mr. Liu Caiming, China Minmetals' Vice President, CFO and Party Group Member, and Mr. Zhang Zhaoxiang, China Minmetals' Vice President and Party Group Member, attended the meeting. Mr. Zhang Youda (Vice President and CFO of Jinchuan Group), Mr. Wang Honglin (Director of the Board Office and General Manager of the International Department of Resources and Capital), Mr. Tian Donghan (Director of Executive Office), Mr. Jiao Zhengsong (Deputy General Manager of Jinchuan Investment Holding Group Limited) and Mr. Li Yonglong (CFO of Jinchuan Investment Holding Group Limited), as well as Mr. Li Yuzhuo, Xiong Xiaobing, Lu Zhifang and other relevant personnel of China Minmetals' headquarters departments and directly-managed enterprises attended the meeting.

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