> HOME > News
China Minmetals and KGHM Sign 5-Year Electrolytic Copper Procurement Contract worth RMB27 bln

At the International Forum on International Cooperation of Central Enterprises held on November 6, 2018 as part of the First China International Import Expo (CIIE), China Minmetals, a representative of Chinese central enterprises, inked a five-year contract for the procurement of electrolytic copper, worth about RMB27 billion. The signing ceremony was honored by the presence of Xiao Yaqing, Chairman of the State-owned Assets Supervision and Administration Commission (SASAC); Deputy Minister of Commerce Wang Bingnan; Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman; Polish Undersecretary of Economic Development Tadeusz Ko?ciński; and Marcin Chludziński, President and CEO of KGHM Polska Miedz SA.

The contract represents China Minmetals' determination to embrace the Belt and Road Initiative and align with the national strategy of opening up at a high level. It also deepens the partnership between China Minmetals and KGHM and contributes to the China-Poland comprehensive partnership.

Before the contract signing ceremony, Mr. Guo held a meeting with KGHM President and CEO Marcin Chludziński. Guo began by congratulating Mr. Chludziński on his recent appointment as President and CEO of KGHM and said he was glad to meet Mr. Chludziński in Shanghai. Guo then briefed the latter on the latest development since the strategic recombination of China Minmetals and the MCC, two of the World Top 500 companies.

Since the strategic recombination, China Minmetals has grown into the only state-owned capital investment company in the Chinese metal mining industry. It has built an industrial chain ranging from mine acquisition, investigation, design, construction, mining, ore dressing, smelting, logistics and trade, with RMB1.68 trillion assets under management, and hires a workforce of 200,000. It strives to become a country-leading, world-class metal mining corporation. The MCC is the pioneer and leading force in the Chinese iron & steel industry, a national team of metallurgical engineering, claiming 90% of the domestic market share and 60% of the global market share. It has built all the blast furnaces for Chinese steel plants, and provides first-rate engineering, technical and operational services and support for all large steel plants in China.

Guo said, China Minmetals highly values its partnership with KGHM, one of its oldest partners. Recent years have seen more extensive and intense cooperation between the two. According to statistics, China Minmetals' imports from KGHM account for 40% to 60% of China's total imports from Poland. The sustained, stable cooperation between the two has greatly bolstered the bilateral economic and trade relations and supported its sustainability.

In conclusion, Guo said the sustained, stable partnership between the two companies have set a good example for the bilateral relations. The two companies have witnessed the deepening of China-Poland relations and he hoped that the contract would take their partnership further towards a brighter future.

Mr. Chludziński thanked China Minmetals for inviting him. He said that this was his first visit to China and it had been wonderful. China Minmetals has shown great support for KGHM at the First CIIE. The two companies have enjoyed long-lasting sound partnership, with support from both governments. He hoped the partnership would continue.

Mr. Guo was invited to visit the exhibition of KGHM at the first CIIE.

Other attendees of the above activities included China Minmetals vice presidents and Party Group members Liu Caiming, Zhang Zhaoxiang and Jiao Jian, Executive Director (Commercial) Danuta Tuchorska, Executive Director (Communications) Lidia Marcinkowska-Bartkowiak, and President and CEO Marcin Chludziński, and Advisor to President Rados?aw ?ydok of KGHM, and Xing Yan, Li Zhicong and Yang Liang from the head office and directly affiliated subsidiaries of China Minmetals.