On March 26, Mr. Guo Wenqing, General Manager of China Minmetals Corporation and Chairman of China Metallurgical Group Corporation met with the delegation led by Robert M. Friedland, Founder and Chairman of Ivanhoe Capital Corporation, to discuss further communication and cooperation between the two sides in detail.

Mr. Guo extended a warm welcome to the delegation and introduced the development of China Minmetals Corporation (CMC), restructured from two Fortune Global 500 companies, namely China Minmetals and China Metallurgical Group. He pointed out that the restructuring has significantly increased the size and development potential for CMC, which is the only state-owned investment company in China’s metals and mining industry. Currently, it holds 1.68 trillion yuan in assets under management and has 200,000 employees. It is responsible for safeguarding the country from metal supply shortages and committed to becoming China’s largest and world’s leading metals and mining group. China Metallurgical Group is the world’s largest and strongest contractor in metallurgical construction and service provider in metallurgical enterprise operations. The Ramu project in Papua New Guinea is independently designed and constructed by China Metallurgical Group using its own patent-protected technology.

Mr. Guo said that the two parties have maintained extensive ties with each other and both China Minmetals and China Metallurgical Group have the intention to continue in-depth cooperation with Ivanhoe Capital Corporation. He emphasized that CMC has always been looking for mineral resources that match its responsibilities and development goals and expressed the hope that Ivanhoe Capital Corporation will play an active role in making up for shortages of CMC and deepening cooperation with CMC in global mining investment, metallurgical engineering and other fields, ensuring the cooperation between the two parties more stable.

Mr. Friedland expressed gratitude for the warm welcome and introduced the development of Ivanhoe Capital Corporation, and reviewed the history of cooperation between Ivanhoe Capital Corporation, China Minmetals and China Metallurgical Group. He pointed out that the cooperation between the two parties is not a fleeting thing and Ivanhoe Capital Corporation maintain and will continue to maintain a close cooperative relationship with China Minmetals and China Metallurgical Group in the future. Several in-progress mineral projects of Ivanhoe Capital Corporation have outsourced construction services to China Metallurgical Group. Mr. Friedland praised CMC’s competencies as global mining investor and metallurgical engineering service provider and expressed hope that the two sides would deepen cooperation in the development of mineral resources such as copper, nickel and cobalt.

CMC’s leader Jiao Jian attended the meeting. Related personnel of Ivanhoe Capital Corporation, including Zhou Chao, Egizio Bianchini and Liu Kexin, and representatives of related departments of CMC and Minmetals International, including Gao Xiaoyu, Xing Yan, Liang Jianbo, Zhang Jinhong and Gao Fei, attended the meeting.