A strategic cooperation agreement was signed on February 18, 2022 between JCHX and China Molybdenum Co., Ltd. (“CMOC”) at CMOC’s headquarters in Shanghai, with an aim to expand overseas market, increase investment in large mines and create new opportunities for Chinese mining companies in global market. The signing ceremony was attended by Mr. Sun Ruiwen, President of CMOC, Mr. Wang Xiancheng, Chairman of JCHX Group, Mr. Peng Huaisheng, President of JCHX Group, and other representatives from both sides.
As an international company, CMOC specializes in mining and trading of base and rare metals in the world. With its main business presence on five continents: Asia, Africa, South America, Oceania and Europe, the company is the largest tungsten producer, the second largest cobalt and niobium producer, one of the top seven molybdenum producers and a leading copper producer in the world. It is also the second largest producer of phosphatic fertilizers in Brazil. In terms of trading business, the company is among the top three base metal merchants in the world.
JCHX always endeavors to provide value-added services for top-ranking mining companies both at home and abroad, depending on its strong expertise and long-term commitment to mining sector. Through over two decades of development in overseas market and by undertaking multiple large-scale overseas projects, abundant experience is accumulated in terms of mining engineering, mine construction and mining operation, with a highly skilled, professional and international team built.
Mr. Sun expressed warm welcome to Mr. Wang, Mr. Peng and other representatives from JCHX, prior to a friendly and in-depth discussion between both parties.
During discussion, Mr. Wang extended sincere gratitude to Mr. Sun for his hospitality before expressing intense admiration for the professional competence and insightful vision of CMOC regarding capital operation and M&As. Then Mr. Wang gave a brief introduction over the history, project status and development strategy of JCHX, followed by a determination to maximize mutual interest and benefits of both parties through future cooperation.
Then Mr. Sun presented the development status and industrial landscape of CMOC. He pointed out CMOC now focuses to transform its advantages in resources into economic returns, now that it has obtained substantial valuable assets through M&As. CMOC fully recognizes the expertise and business integrity of JCHX, hoping to take FS optimization and consultation for Northparkes project as a start to further strengthen mutual cooperation. Particularly, many projects of CMOC are facing the transition from open pit to UG mining, which present plenty of opportunities for the cooperation between both parties, considering the unique advantages of JCHX in providing mining services at UG mines. Meanwhile, CMOC’s expertise and unparalleled risk-control experience in overseas M&A can definitely benefit both parties in future cooperation in such area.
The strategic agreement was signed after the discussion, based on which long-term and stable strategic partnership and communication mechanism shall be established, and proactive cooperation in mine construction, mining operation, technical consultancy and services, mineral products trading and M&A in overseas market shall be explored.
