In order to give better play to the decision-making role of the Board of Directors and the combination advantages of inside and outside directors and scheduled by the Board of Directors of Minmetals, outside directors of Minmetals Shi Dahua, Lang Jia, and Pan Zhengyi paid a visit to 5 Minmetals entities (Minmetals Luzhong Mining Co., Ltd., Minmetals Land (Nanjing) Limited, Minmetals-XD Coil Center (Changzhou), Minmetals (Wuxi) Steel Logistics Co., Ltd. and Anhui Development Mining Co., Ltd.) for field inspection for a week from September 14 to 18.
During their inspection, Shi Dahua, Lang Jia, and Pan Zhengyi were briefed on the leadership work of these enterprises. They surveyed in detail the basic operating situation, business development strategies, existing achievements and shortcomings, future development and development concept of these enterprises. By paying field visits to the production plants and project sites of these enterprises, they gained personal experience in the equipment, working environments and production of the sectors of iron ore mining, steel logistics and building construction, and conducted in-depth communication and exchanges with their managers, technicians and production line workers.
In Minmetals Luzhong Mining Co., Ltd., Shi Dahua, Lang Jia, and Pan Zhengyi watched the detailed process of iron ore mining, examined the progress of Minmetals heavy machinery, shanty area rebuilding and some other projects, and fully affirmed the morale of its cadres and workers and their efforts in the construction of garden-style factories and mines, production safety management and continuous improvements on production and management indicators despite the current difficult situation. In Minmetals Land (Nanjing) Limited, the three directors inspected the Chongwen New Residential Project, Yanshan Residential Project and Jiuxitai Project. They highly recognized the efforts of the company in project practices and brand building so as to create high-quality, unique living space following the philosophy of “limited resources, unlimited quality”, and highly appreciated its project management team exclusively composed of market-oriented personnel. In Minmetals-XD Coil Center (Changzhou) and Minmetals (Wuxi) Logistics Park, the three directors visited steel processing plants, logistics distribution stations and warehouses, speaking highly of their services for the national logistics strategies, pragmatic transformation and innovation, and active creation of circulation value. In Anhui Development Mining Co., Ltd., they entered the mining area of Lilou Mine at a depth of 450 underground, and examined in detail the technical features of magnetic separation and flotation technology. They fully affirmed the advanced mining and filling technology of Anhui Development Mining Co., Ltd. as well as the multi-pronged approaches and measures for cutting costs and increasing efficiency and the vision for future business development of Minmetals Hanxing Mining Co., Ltd.
During their inspection, the three directors fully affirmed the production and management of these enterprises as well as the morale of their cadres and workers. They also stressed that the current downturn in the global metal and mining market and the still huge downward pressure on China’s economy are posing severe challenges to Minmetals. In the current difficult times, enterprises must strive for reform and innovation, continue to broaden their horizons for development; they should effectively cut costs and increase efficiency, strictly control operational risks, especially capital risks, and strive for maximum operational benefits; they should objectively analyze industry development trends, prudently study and establish development strategies, and strictly conduct cost-benefit analysis of investment projects, so as to effectively enhance their market competitiveness; they should seek long-term development and take advantage of national policies, make scientific planning for continuous resources and emerging diversified industries to build a “time-honored” enterprise; they should always give top priority to production safety and seek sustainable development featuring green and environmental protection.
Board Secretary of Minmetals Zhou Wei was also on the inspection tour.
