On 19 Oct 2017, Jimond Mining Management Company SARL (hereinafter referred to as Jimond) (subsidiary of JCHX) signed the contract for Kakula Decline Development at Kamoa Copper Mine, which is the third largest copper mine worldwide with a total value of USD 24.47 million and contract period of 12 months. It represents the official entry of JCHX in DRC market.
Kamoa Copper Mine is located 50km to the south of Kolwezi in Katanga province of the Democratic Republic of Congo, owned by Ivanhoe Mines and Zijin Mining, and is currently one of the biggest high-grade unexploited copper mines globally.
JCHX has been watching and exploring opportunities in DRC market for years, under the leadership of Chairman Wang and other senior management, JCHX established a subsidiary company in DRC in the name of Jimond Mining Management Company SARL at the beginning of 2016, meanwhile it sent competent and experienced management team to DRC to follow up closely on the development of Kamoa Copper Mine. After nearly two years of endeavor, JCHX finally won the bid for Kakula Decline through fierce competition against several worldwide famous mining companies and subject to strict international tendering process and standards.
Winning of this bid is owing to the rebound of international mining market. And it bears further and deeper meaning than merely a single project, it is more of an optimal result from implementation of overseas development strategy and close observation of DRC mining market by JCHX.
DRC is abundant in rare metals resources such as copper and cobalt, signing the contract for Kamoa Copper Mine demonstrates the overall strength of JCHX covering project management, quality control and safety production, also it shows the enhancement of JCHX in meeting international standards and its conformity with glabal mining practices. It is believed that Kamoa Copper Mine is a milestone progress for JCHX in overseas development and also a valuable gift from Jimond at the timing of 20th Anniversary of JCHX.
The management team for Kamoa Copper Mine consist of experts from more than 14 countries with strong mining market such as South Africa, Canada, Australia, America etc. It is also the first contract signed in line with South African laws, regulations, codes, standards and practices for JCHX. JCHX shall be facing an integration between Chinese and western cultures as well as different construction conceptions and techniques. Winning of this project shall increase the brand images for JCHX and facilitate its further expansion in global market.
