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Weng Zuliang Meets with Robert Friedland, Chairman of Ivanhoe Capital Corporation

China Minmetals Corporation 2023-05-07

On May 4 afternoon, Weng Zuliang, Chairman of China Minmetals, met with Robert Friedland, Chairman of Ivanhoe Capital Corporation during his visit to China.

Weng Zuliang noted that in recent years, China Minmetals has achieved rapid growth, setting new performance records. Moreover, it has become the sector-leading enterprise in building its global whole-industry chain covering from resources acquisition to exploration, design and construction, mining and beneficiation, smelting and processing, and trade and logistics. The current global mineral resources landscape is drastically changing. Sizable market fluctuations and external shocks are severe, and the rising trend of anti-globalization is further exacerbating the complexity of the situation. Despite this, the Chinese government has remained steadfast in its commitment to increase its openness to the world, generating an advantageous setting for market participants to thrive. He stressed that, as influential and responsible international mining entities, both sides should bolster communication, take prompt actions, constantly build up collaboration in various fields, such as resource exploitation, trade and logistics, and technical exchanges, while progressing cooperation in the sectors of engineering construction, traditionally engaged in by them. Additionally, both sides should uphold the concept of low-carbon and green development in tandem, promote common development through pragmatic collaboration with distinct strengths, and contribute to the safety and stability of nowadays’ worldwide industrial and supply systems.

Robert Friedland, on behalf of Ivanhoe Capital Corporation, expressed his gratitude for China Minmetals’ efforts on their joint projects in spite of the hardships caused by the COVID-19 pandemic. He noted that China Minmetals’ excellent business practices and premier services have left a positive impression on Ivanhoe Mines, helping to foster sustainable, long-term cooperation between both sides. In the post-pandemic era, challenged by issues such as anti-globalization and carbon emissions reduction in the mining sector, both sides aspire to broaden and deepen cooperation. Ivanhoe Mines has seen remarkable achievements in ore prospects in South Africa and the Democratic Republic of Congo, demonstrating significant progress in mineral technology. He hoped that both sides could strengthen communication in order to map out the specific norms of cooperation, broadening and deepening collaboration in areas such as exploration, resource development, engineering construction, and technical exchanges, and reaching tangible outcomes in the near future.

Zhu Kebing, Vice President of China Minmetals, attended the meeting, accompanied by relevant department heads and leaders of directly-managed enterprises.