On September 11, Mr. Guo Wenqing, China Minmetals' President and MCC Chairman met with Mr. Norikazu Tanaka, the Executive Vice President of Mitsubishi Corporation (MC) and Group CEO of MC Mineral Resources Group. The two sides had in-depth exchanges on further expanding and deepening cooperation.

Mr. Guo extended a warm welcome to Mr. Tanaka and his entourage, reviewed the history of friendly cooperation between China Minmetals (including MCC) and Mitsubishi Corporation, and introduced the development since the strategic reorganization of China Minmetals and MCC, both the top 500 enterprises in the world. Guo pointed out that China Minmetals has built a business system featured by "four beams and eight columns" regarding metal mining, metallurgical construction, trade logistics, and finance and real estate since the reorganization in 1995, aiming at “China First, World Leading” mineral resources group with the current total under-management financial assets of RMB 1.85 trillion and 200,000 employees. In 2018, China Minmetals delivered over RMB 520 billion in operating income together with the best profit performance, hitting record highs.

Guo Wenqing stressed that we have effectively promoted the implementation of high-quality projects such as MCC RAMU in the field of mineral resources, especially the new energy materials, which is committed to providing more and better front-end resources services for the new energy industry chain. At the same time, the expansion of existing overseas mining projects and the potential M & A projects are being kept in place. In the field of trade logistics, we have built a new trading system pattern characterized with big clients and big projects by constructing the Caofeidian 100-ton international ore trading center. On the basis of the good faith and friendly cooperative relationship established between the two parties in the past long-term business relations, it is hoped that the two sides will take this meeting as a new opportunity to further strengthen the exchange, enhance mutual trust and establish the more profound and comprehensive strategic cooperative partnership, thus actively expanding cooperation in the fields of new energy materials and trade logistics with the respective advantages of both parties for the win-win development and shared prosperity.

Mr. Tanaka expressed his appreciation to Mr. Guo for the warm reception and long-term support of China Minmetals, and introduced the main businesses and development of MC. There are 10 business sections in MC of which Mineral Resources Group is of great importance, covering the investment, development and trade of iron ore, coal, copper, aluminium and other metal resources, and contributed about 40% of the MC total profit in 2018. MC is looking forward to further strengthening communication and docking with China Minmetals to expand and deepen the cooperation for a comprehensive strategic cooperative partnership, turn the changes to the growth opportunities, and for more fruitful cooperation at an early date on the basis of in-depth excavation of cooperation space and opportunities in new energy materials, iron ore trade and other fields. Mr. Tanaka also sincerely invited Mr. Guo to make a visit to MC at the appropriate time for the further communication and cooperation of both parties.

The two sides also discussed topics of common concern and identified specific docking units and personnel for cooperation.

Mr. Jiao Jian, Deputy General Manager of China Minmetals and Mr. Yasuteru Hirai, the Executive Director of Mitsubishi Corporation and President of Mitsubishi Corporation China Co., Ltd., were also present in the meeting. The guest personnel including Junichi Shiobara, Masatoshi Bando,Kotaro Tomita, Kohei Harada and Man Jiang from Mitsubishi Corporation participated into the meeting together with the relevant personnel from the headquarter and directly-charged subsidiaries including Xing Yan, Liu Qingchun, Shaobo, Zhu Lina, Zong Shaoxing etc.