Recently, China Minmetals Corporation (hereinafter referred to as "China Minmetals") released its 2023 Sustainability Report, the 17th sustainability report consecutively released by China Minmetals since 2007. This report, containing nearly 50,000 Chinese characters, is divided into five chapters, i.e. Serving the Strategy to Strengthen Key Business, Consolidating the Foundation for Steady Development, Building a Strong Defense Line for Safety and Environmental Protection, Creating a Hardworking and Entrepreneurial Team, and Assuming Responsibilities and Sharing Inclusive Benefits. With 109 real images, 99 big data, 92 cases and 19 logic diagrams, it discloses key performance and duty fulfillment of China Minmetals in 2023 from multiple perspectives.

In 2023, China Minmetals responded to internal and external pressures and challenges with effective actions. As a result, its operating revenue, profits and net profits increased against headwinds, and its quality and benefit was continuously improved. Its asset structure was continuously optimized, and its operating performance reached a record high, with operating revenue of RMB 934.6 billion earned and a total tax amount of RMB 23.2 billion paid throughout the year. As pointed out by Weng Zuliang, Party Group Secretary and Chairman of China Minmetals, China Minmetals firmly grasped the primary task of high-quality development, and resolutely shouldered the original mission of "serving and reinvigorating the country through the metals and minerals industry". It also fully implemented the Five Core Principles, accelerated the promotion of the Five Action Plans and construction of Five Types of China Minmetals, and delivered excellent performance for high-quality development on a new journey.

The report shows that China Minmetals has performed excellently in a series of sustainable development indicators. In terms of business development, China Minmetals focused on its primary responsibilities and key business of metals and minerals and metallurgical construction and made efforts in both traditional and emerging industries. It also gave full play to the unique advantage of industrial chain integration and accelerated the acquisition of resources at home and abroad. In addition, it expanded the channels of resource trade and further demonstrated its commitment to high-quality development. In 2023, its output of major mineral resources showed a steady rise, with lithium carbonate output increasing by 18% year-on-year and copper metal output growing by 13% year-on-year. Its ability and level of resource security was continuously improved with the steady progress in mine production and construction, the successful acquisition of Khoemacau Copper Mine in Botswana, the commencement of Chentaigou Iron Mine Project, and the completion and operation of Yunshan Graphite Mining Project (in Luobei County, Hegang City), Lithium Salt Lake Project in Qinghai, Battery Foil Project of North China Aluminum Co., Ltd. and other projects.

In terms of technological innovation, China Minmetals fully unleashed the national strategic scientific and technological strength of central state-owned enterprises ("central SOEs"). It continuously strengthened technological research, created the “place of origin” of original technology, and strove to promote the integration and mutual promotion of science & technology and industries. In 2023, it invested a total of RMB 22.7 billion in research and development, and its major programs for silicon nitride, crystalline graphite and others overcame many technical bottlenecks in key materials. In addition, it put great efforts to build Central Research Institute of China Minmetals Corporation and increased the number of national science and technology platforms to 46. Moreover, it used industrial application to promote the transformation of achievements. It obtained 2,588 new invention patents with a year-on-year increase of 28.6%. With great efforts, it had a total of 57,000 technology patents.

In terms of work safety, China Minmetals focused on the Three-year Action Plan for Addressing the Root Cause. To be specific, it promoted digital empowerment, deepened supervision and inspection, and prevented and defused the safety risks at the source. In 2023, its investment in work safety was RMB 11.85 billion. As a result, its four indicators maintained a downward trend. The indicators are death rate per construction output value of RMB 10 billion, death rate per million tons in mines, number of work safety accidents, and death toll in these accidents. Moreover, it had no major or serious work safety accidents.

In terms of ecological and environmental protection, China Minmetals actively promoted green and low-carbon transformation. It formulated and implemented the action plan for peaking carbon emissions and put great efforts to realize pollution prevention and control, solid waste resources recycling, green mine construction and biodiversity protection. These actions effectively supported the country to achieve the goal of "peaking carbon emissions by 2030 and reaching carbon neutrality by 2060" and advanced the Beautiful China Initiative. In 2023, China Minmetals achieved a year-on-year decrease of 4.1%, 3.9%, and 8.4% in comprehensive energy consumption, energy consumption intensity and carbon dioxide emission intensity, respectively. Five affiliated enterprises of China Minmetals were awarded the national-level "Green Factory" title.

Meanwhile, China Minmetals actively fulfilled its responsibility as a global corporate citizen and shouldered its social responsibilities as a central SOE. It followed strictly the requirements of consistent responsibilities, policies, support and care for people who have just been lifted out of poverty. In 2023, it invested RMB 78.652 million as gratuitous assistance funds in the areas that have just been lifted out of poverty, provided assistance through consumption of products and services worth RMB 49.605 million from these areas, and trained 6,548 cadres and talents. Moreover, it provided emergency support to flood control and disaster relief in Zhuozhou City, with a daily input of 1,635 persons and 312 sets of equipment on average. It took only 10 days to repair the operational function of the sewage treatment plant, which usually takes 4 to 6 months to fix. Besides, it donated more than RMB 18 million in funds and materials to earthquake stricken areas in Gansu Province and Qinghai Province to support disaster relief and reconstruction. In addition, it increased support for the communities in which overseas projects are based, and promoted common development. In Peru, it formulated and implemented the "Heart of Las Bambas" plan, and invested RMB 80 million to help build the Kutuctay Bridge in Cotabambas Province, shortening the travel time for over 50,000 local community residents by more than 2 hours.

The year of 2024 marks the 75th anniversary of the People's Republic of China and a crucial year for the 14th Five Year Plan. In 2024, China Minmetals will further promote high-quality development and boost its major responsibilities and key business. It will also optimize value creation and promote SOE reform to a deeper level. In addition, it will accelerate its pace of building itself into a world-class powerhouse with global competitiveness in the metals and minerals industry, and make new, greater contributions to building a great country and advancing national rejuvenation.