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Guo Wenqing meets with CRHC Chairman Zhou Yubo

Guo Wenqing, president and deputy secretary of the Party Group of China Minmetals and chairman of MCC, met with Zhou Yubo, chairman and Party Group secretary of China Reform Holdings Corporation Ltd. (CRHC) on September 12. The two sides exchanged views on further tightening their cooperation.

Guo Wenqing welcomed Zhou Yubo and his delegation, congratulated Zhou on becoming chairman of CRHC, and thanked CRHC for its consistent support to China Minmetals and MCC. Guo introduced the development of China Minmetals since it had the strategic recombination with MCC, both being Fortune 500 companies, and noted that the new China Minmetals after the recombination is the first in the global metal mining industry to establish a full industrial chain from resource acquisition to exploration, design, construction, exploitation, beneficiation, smelting, logistics and trade. As the only SOE in Chinese metal mining industry, it carries the mission of ensuring the nation's metal resource supply and is committed to becoming the best metal mining group in China reaching world leading level. China Minmetals has the total assets of RMB1.68 trillion and 200,000 on-duty employees. At present, it is establishing a business system featuring "four beams and eight columns" and striding forward according to its three-step strategy toward the goal of "doubling the profits twice from 2016 to 2018".

Guo Wenqing stressed that new energies and new materials are strategic emerging industries in China. China Minmetals is focused on resources for NEV battery materials and actively developing the new energy drive sector. It has successfully operated the nickel mine in Papua New Guinea whose reserve ranks among the top three in the world, and is integrating manganese resources in China and pushing Changyuan Lico's battery cathode material project, MCC Ramu's ternary precursor project and China Minmetals' lithium extraction project at a faster pace. It also took the lead in forming the China Minmetals New Energy & New Material Industrial Investment Fund. Noting that China Minmetals, MCC and CRHC have had long-term friendly cooperation, Guo urged the two sides to tighten communication and exchange, expand the scope of cooperation and deepen it in the future, especially in new energy and new materials, so as to make positive contributions to invigorating strategic emerging industries in China.

Zhou Yubo thanked Guo Wenqing for his hospitality and the support given by China Minmetals and MCC to CRHC. He introduced CRHC's "5+1" business layout, including fund investment, financial service, asset management, stock operation, overseas investment, and full-time external director service for central enterprises. Zhou also introduced CRHC's investment in the strategic project Farasis Energy. Zhou hoped the two sides will continue to step up communication, explore exchange and cooperation in more areas, and achieve mutual benefits and common development.

Liu Caiming, vice president and member of the Party Group of China Minmetals, attended the meeting. Also present at the meeting were Vice President Sun Lujun of China Reform Fund, Executive Director Su Jing and Senior Manager Li Shuo of the General Office of China Reform Venture Capital Investment Management (Shenzhen) Ltd., and heads of China Minmetals organizations and subsidiaries including Zou Hongying, Li Yuchao and Xiong Xiaobing.