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Guo Wenqing met with Hengyang Municipal Party Committee Secretary Zheng Jianxin

On March 11, Mr. Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman, met with Mr. Zheng Jianxin, Seretary of Hengyang Municipal Committee and Director of Hengyang Municipal People's Congress Standing Committee and his delegation. The two parties made an in-depth and friendly discussion on the issues of the Copper-Lead-Zinc Industry Base cost control, the Shuikoushan environmental improvement, and the transportation line construction of.

Mr. Guo extended a warm welcome to Mr. Zheng and his delegation, expressed his gratitude to the Hengyang Municipal Party Committee and Municipal Government for their long-standing support for the local China Minmetals’ affiliated enterprises, and introduced the major achievements after the recombination of the former China Minmetals and MCC in the past three years. He pointed out that since the strategic recombination of the two enterprises (both listed in the Fortune Global 500) in December 2015, China Minmetals has taken the lead in building the whole industrial chain covering from resource acquisition to exploration, design, construction, mining, mineral processing, smelting, logistics and trade in the global metal mining field, with an increasing business scale, the improved assets quality, the prosperous business benefits and the enhanced development potential. Under the guidance of the “quadrupling in three steps”, China Minmetals delivered the best business performance of operating income and profit in 2018, which fulfilled the second-step goal successfully. As Hunan Province is becoming the one with the broadest strategic distribution and the largest total assets of China Minetals exceeding 200 billion yuan, the solid foundation for the deep friendship between China Minmetals and Hunan has been laid during the long-standing cooperation over the past years. Hengyang, listed in the pilot demonstration cities for “Made in China 2025”, is an important industrial city in Hunan Province and even in the Central and South China, which is also a strategic development partner of China Minmetals for many years with exciting achievements and great potential. Therefore, China Minmetals is greatly looking forward to the further cooperation with Hengyang.

Guo stressed that the Copper-Lead-Zinc Industry Base of China Minmetals is the green economy development project of strategic cooperation between China Minmetals and Hunan Province, the key project of comprehensive environmental improvement of Xiangjiang River, and the livelihood project of the SOEs reform coordinated with the local development, which not only promotes China Minmetals to improve the core competitiveness and supplement the deficiency of resources, but also benefits the economic and social development of Hengyang and Hunan Province. It is hoped that the Hengyang Municipal Committee will continue to support the operation and development of this project, assisting the smelting enterprises to reduce production costs and improve equipment efficiency with more preferential policies and support in terms of electricity prices and construction land. Meanwhile, the requirements of the central government on environmental protection should be rigorously followed by the two sides to implement the upgrading of industrial structure, eliminate backward production capacity, revitalize the landscape of the plant, handle the land use of the residents around the mining area, and ensure the controllable environmental capacity of Shuikoushan area. In view of the relatively backward transportation conditions and the high transport cost in Shuikoushan mining area, Guo suggested that both sides should form a joint-working group on the basis of investigation and evaluation, discuss the cooperation mode together, and draw up a design and construction plan, which can not only solve the above problems, but also promote the construction level of Hengyang infrastructure, improve the appearance of Hengyang, and contribute to the local economic and social development and the local living standards improvement.

Mr. Zheng expressed his gratitude for the warm reception of Mr. Guo and his appreciation for the outstanding achievements of China Minmetals in the three years of restructuring. He said that China Minmetals has fully utilized the advantages of large-scale central SOEs in technology, management, capital and talents in Hengyang for a long time, greatly contributing to the rapid economic and social development of Hengyang. The Hengyang Municipal Committee fully approves Mr. Guo’s recommendations and will seriously study and implement feasible plans to support the development of China Minmetals' local affiliated enterprises as a key important task, truly serving for the enterprise and reducing the burden of the enterprise for the high-quality development in the new era.

Mr. Liao Yanqiu, Chairman of the Hengyang CPPCC and Director of the Copper-Lead-Zinc Industry Base Construction Coordination Group, Mr. Liu Daxiang, Changning Municipal Party Committee Secretary, and Mr. Jiao Jian, Deputy General Manager and Party Committee Member of China Minmetals also attended the meeting. Other attendees were Mr. Xia Pingping, Secretary General of the Hengyang CPPCC, Mr. Zhou Mingqiu, Director of Hengyang City Office in Beijing, Mr. Guo Jianzhong, Deputy Director of Hengyang Municipal Human Resources and Social Security Bureau, and Office Director of the Copper-Lead-Zinc Industry Base Construction Coordination Group, together with the leaders from China Minmetals headquarter and the affiliated enterprises including Xue Fei, Zhang Shuqiang, Zhao Zhishun, Lu Zhifang, Huang Zhongmin and Wang Minghui.