From October 13 to 16, in the company of Board Secretary Zhou Wei, outside directors of Minmetals Shi Dahua, Lang Jia, and Pan Zhengyi and Worker Director Liu Leiyun paid a visit to Changsha Research Institute of Mining and Metallurgy Co., Ltd., Zhuzhou Smelter Group Company Limited, Zhuzhou Cemented Carbide Group Co., Ltd., Hunan Shizhuyuan Nonferrous Metals Co., Ltd., Hunan Shuikoushan Nonferrous Metals Group Co., Ltd., Gold and Copper Project, and other major subsidiaries and projects of Minmetals in Hunan for a 4-day field inspection.

In Changsha Research Institute of Mining and Metallurgy Co., Ltd., the directors were briefed on by the leadership on the historical evolution, scientific research results, operating status, and the “13th Five-year” Plan of the institute. They also paid a visit to the frontline laboratories, and examined the progress of key pilot projects including the development and utilization of deep sea mineral resources. The directors highly appreciated the institute for its solid development in Hunan Province over the past 6 decades, dedication to the national strategy and coordinated development together with Minmetals, and achievements in continuous innovations and active upgrading.

In Zhuzhou Smelter Group Company Limited, the directors went into the smelting plants for a field visit to the project of heavy metal pollution reduction and resource recycling, and were briefed upon the progress of the group in business restructuring. The directors fully recognized the important position of the group in the lead and zinc smelting industry in China, the good morale of its cadres and workers, and the excellent capacities of integrated environmental governance.

In Zhuzhou Cemented Carbide Group Co., Ltd., the directors had in-depth exchanges with researchers and production line workers, visited the Zhuzhou Cemented Carbide Diamond Industrial Park and key national labs for cemented carbide, and fully surveyed the specific applications of cemented carbide in the industry and Minmetals’s overall development planning for the tungsten industry. The directors highly appreciated the group for promoting innovation-driven development, blazing new trails in the development of domestic cemented carbide, and fostering a great number of responsible, enterprising cadres.

In Hunan Shizhuyuan Nonferrous Metals Co., Ltd., the directors visited the Shizhuyuan Polymetallic Ore Museum, asked in detail about the development and applications of cutting-edge technologies such as the “Shizhuyuan Technique” developed by the company, and fully affirmed the contributions of the company to the development of China and Minmetals’ nonferrous metals for years through technology development and continuous exploration in a pioneering spirit.

In Hunan Shuikoushan Nonferrous Metals Group Co., Ltd., the directors went into time-honored mines to gain a personal experience of the production plants. They particularly asked about the progress of the Gold and Copper Project, had in-depth exchanges with the cadres and workers, and learnt in detail about its production and living conditions. The directors spoke highly of the glorious history of Shuikoushan and the great dedication of industrial workers. They also fully affirmed the industrial achievements of the company in cost reduction against the background of an overall industrial downturn.

During their visit, the directors pointed out that this inspection has not only helped enhance their understanding of the nonferrous metals mining, smelting and research work, but also provided them with a deep insight into the important role Minmetals has played in China’s metals strategy. Most importantly, they have been deeply touched and greatly encouraged by the sense of responsibility and dedication of grassroots industrial workers and researchers.

The directors also had in-depth exchanges with these subsidiaries on the next development plan and strategy. They called on these subsidiaries to positively seek favorable policies and seize opportunities to meet challenges with enhanced confidence to respond to the overall downturn of the global metal and mining market, the great downward pressure on China’s economy, and the serious challenges for production and business operation; they asked these subsidiaries to take full advantage of the opportunities of the state-owned enterprise reform and effectively arouse the vitality of systems and mechanisms through reform and innovations; to seek benefits through scientific and technological innovation, earnestly carry out the recycling of resources, and work to maximize production and operational efficiency; and to firmly establish risk awareness, and fully consider risks, so as to turn bad things into good things.

Cao Xiuyun, Assistant General Manager of Minmetals and Deputy General Manager of Minmetals Nonferrous Metals Business Center; Li Li, Deputy General Manager of Minmetals Nonferrous Metals Business Center; Yang Yingliang, General Manager of Changsha Research Institute of Mining and Metallurgy Co., Ltd.; Party Committee Secretary Xie Jianguo; and relevant executives of Minmetals Board Office and the GM Office of Minmetals Nonferrous Metals Business Center; attended the inspection.