On Nov 26th , Mr. Xiancheng Wang, Chairman of JCHX and Mr. Huaisheng Peng, President of JCHX met with delegates from Barclays, including Michael, its General Manager for Global Mining & Metals, and its managing director for Investment Banking Division.
During the discussion, Michael introduced the profile of Barclays in terms of mining investment, and analyzed the operation and financial situation of world major mining corporations based on global economics. After the introduction by Michael, we also analyzed current development of mining industry, especially under the pressure of economic downturns, the metal prices have continuously gone down, which brought great challenges for existing mining enterprises, many world famous enterprises had to shutdown or reduce production in order to ease financial pressures; on the other hand, the severe condition for mining industry also created many possibilities for mergers, technological advancement, management enhancement.
Both sides also exchanged ideas and opinions about resources allocation, production management, future trends in some world-class non-ferrous mines, meanwhile they expressed the willingness of strengthening communications between each other, so as to lay a solid foundation for future cooperation.
