On April 12, President Zhou Zhongshu and Senior Vice President Feng Guiquan met a delegation led by Zhang Xiaofang, President and General Manager of Benxi Steel Group Corporation (hereinafter referred to as “Benxi Steel”). The two sides exchanged views on further enhancing and deepening cooperation.

President Zhou briefed President Zhang on the operation performance of Minmetals in 2010 and the first quarter in 2011 as well as the development of its major sectors. According to him, Minmetals is the largest iron ore supplier and steel distributor of Benxi Steel. The two sides enjoy a solid foundation and good prospect for cooperation. He looked forward to increased support from Benxi Steel and enhanced cooperation.

President Zhang reviewed the course of cooperation, and introduced to President Zhou the integration of Benxi Steel and Beitai Steel as well as the vision of the “12th 5-Year Plan”. She said that Benxi Steel had established all-round partnership with Minmetals and called on both sides to promote project cooperation and achieve common development. They discussed specific cooperation projects and exchanged views on economic developments at home and abroad.

Through restructuring Beitai Steel, Benxi Steel can produce 20 million tons of prime-quality steel annually, among the best in the industry in China.

Also present at the meeting were Yao Ziping, Assistant President of Minmetals and General Manager of Minmetals Development Co., Ltd., Chen Shaorong, Deputy General Manager of Minmetals Development, Jing Shili, Director of Steel Division of Minmetals Development, and Wang Zhenzhong, General Manager of Northeast Center of Minmetals Development Steel Division.