Recently, Mr. Guo Wenqing, China Minmetals' President and MCC Chairman led a delegation to call on Mr. Takehiko Kakiuchi, President of Mitsubishi Corporation in Tokyo, Japan. The two sides held in-depth and friendly talks on further strengthening cooperation.

Guo Wenqing expressed his gratitude to MC for its warm reception and reviewed the history of friendly cooperation between China Minmetals (including MCC Group) and MC. Guo pointed out that the new China Minmetals is reorganized by the former China Minmetals and MCC, two of global Top 500 enterprises. In the first half of 2019, the growth rate of operating income and profit both exceed 10% with prosperous development momentum. Now, with the metal minerals in a more prominent position, we are moving towards the goal of China-first and world-leading metal mining enterprise group.

Guo also stressed that China Minmetals has been attaching great importance to the development of metal mining and actively seeking opportunities for mergers and acquisitions of world-class mines with strategic metals such as copper, nickel, lead and zinc. In the aspect of new energy materials, we have given full play to the advantages of resources, efficiently developed high quality projects such as MCC Ruimu, and consolidated the position of the company in the market of new energy cathode materials. In the field of trade logistics, with Caofeidian 100-million-ton international ore trade center as bridgehead, we are focusing on big customers and big projects to carry out business contacts with international large mining enterprises based on the strong iron and steel backup enterprises in Tangshan area for a new pattern of iron ore trade system. In the aspects of metallurgical engineering, we have a good cooperative relationship with a number of large iron and steel enterprises, with a domestic market share of over 90% and an international market share of 60%.

Guo stated that the close business relationship and friendly mutual trust has been established between China Minmetals and MCC with an increasingly frequent high-level exchange of visits between the two sides. It is sincerely hoped that the two sides can go deep and further in communication and cooperation with our respective advantages for more fruitful harvest in such fields as overseas mining exploration, new energy materials, trade logistics, and metallurgical construction etc.

Mr. Kakiuchi extended a warm welcome to Mr. Guo and his entourage, introduced the main business and latest development of MC. He stated that MC has been fully aware of the stability and sustainability and been willing carry out in-depth cooperation with large Chinese enterprises including China Minmetals of which the power and position is fully confirmed by MC. The MC has also attached great importance to the development of new energy materials with the continuous technological R & D and fully approved the huge market potential of Caofeidian Ore Trade Centre. It is hoped that the two sides will further deepen cooperation in new energy materials, iron ore trade, overseas mining, and metallurgical construction etc., for the mutual benefit and win-win strategic partnership.

After the meeting, the two sides also had dinner to further develop an in-depth and friendly exchange.

Mr. Jiao Jian, Deputy General Manager of China Minmetals, Mr. Kanji Nishiura, Executive Vice President of MC, and Mr. Norikazu Tanaka, CEO of Mineral Resources Group of MC were also present in the meeting. The personnel including Kenji Nakamura, Hiroshi Nishino, Masatoshi Bando, Manjiang from Mitsubishi Corporation  participated into the meeting together with the relevant personnel from the headquarter and directly-charged subsidiaries including Liu Qingchun, Hu Liuquan, Han Guorui, Xiao Xuewen, Xiang Mingwu, Yu Zhendong, and Zhang Kaifu.