The Guinean Consortium was established in Guinea

On November 28, the founding ceremony for the Chinese consortium of the Guinea Simandu project jointly established by Chinalco, Baosteel Group, China Railway Construction Corporation, China Harbourview and China-Africa Fund was held in Chinalco. The SASAC, the Ministry of Foreign Affairs, the National Development and Reform Commission, the Ministry of Commerce, the State Administration of Foreign Exchange, the China Development Bank, and the China Nonferrous Metals Industry Association attended the ceremony.

Huang Danhua, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, Mamati Diyray, Guinean ambassador to China, Alan Davis, president of Rio Tinto International Business, and general manager of Chinalco, Xiong Weiping, chairman and chief executive officer of Chinalco. He Wenbo, general manager of Baosteel Group Co., Ltd. delivered a speech.

The signing ceremony of the cooperation agreement was held at the ceremony. Luo Jianchuan, President of Aluminum Corporation of China, Li Qingyu, General Manager of Baosteel Resources Co., Ltd. Chi Jianxin, President of China-Africa Development Fund, Liu Xian, Deputy Chief Engineer of China Railway Construction Zhongfei Construction Co., Ltd., and Lin Dai, Deputy General Manager of China Harbour Engineering Co., Ltd. The party signed the "China Commonwealth Framework Agreement."

Huang Danhua, deputy director of the SASAC, said in his speech that the establishment of the Chinese consortium of the Guinean Simudou iron ore project in Guinea is a new progress and new measure for strengthening cooperation between central enterprises and domestic financial institutions to achieve mutual benefit. Chinalco, Baosteel Group, China Railway Construction, and China Harbour are key enterprises regulated by the State-owned Assets Supervision and Administration Commission of the State Council. They have strong competitiveness in the international market. Among them, Chinalco is a leading company in the domestic non-ferrous metal industry and has significant influence in the global mining industry. The four central enterprises and China-Africa Funds have jointly developed overseas, enhanced the ability of Chinese companies to operate internationally, and created new models for Chinese companies to develop overseas project cooperation. The State-owned Assets Supervision and Administration Commission of the State Council strongly supports central enterprises in accelerating the implementation of the internationalization strategy, encouraging the strengthening of strategic cooperation among central enterprises, and improving their competitiveness in the international market. It is hoped that the model developed by the Simandu project consortium can become a model for cooperation among overseas companies in central enterprises. . It is hoped that all parties will take the establishment of the Chinese consortium as an opportunity to work together in accordance with the agreement for joint development to speed up the project process, realize the benefits of investment as soon as possible, and realize a double harvest of economic and social benefits, in order to increase the value of the company and realize the rights and interests of shareholders. Improve people's livelihood in the project area to make greater contributions.

In his speech, Xiong Weiping stated that the establishment of the Chinese consortium of Guinea’s Simandu iron ore project is a major event in the history of the development of overseas iron ore resources in China. It indicates that the Ximandu iron ore project has entered a phase of accelerated development and construction. . It created a new model in which a number of central enterprises jointly formed a consortium, which is a truly powerful alliance. Chinalco will work with all parties in the alliance to trust each other, respect each other, regulate operations, and unite and collaborate so as to bring together the advantages of all parties, make good use of it, and play well, and truly realize complementarity and mutual benefit. At the same time, Chinalco will adhere to the philosophy of “Making something happen, and benefiting mankind”, be an outstanding corporate citizen, and transform Guinea’s resource advantages into economic advantages as soon as possible so as to make due contributions to the lives of local people. .

China National Aluminum Corporation Party member, deputy general manager, senior vice president of China Aluminum Liu Caiming, vice president of China Aluminum Xie Hong and Chinalco, China Aluminum Corporation responsible person attended the ceremony. The ceremony was chaired by Xie Yuzhi, the assistant general manager of Chinalco and president of Chinalco Overseas Holdings.

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Ximendou Mining Co., Ltd. is located in Guinea, West Africa. It has controlled and inferred reserves of 2.4 billion tons of iron ore according to the Australian Joint Ore Reserve Committee (JORC) standard. The estimated total resources are close to 5 billion tons and the overall ore grade of the project ranks among the top in the world. After the project is put into operation, it will significantly increase the global supply of iron ore, effectively alleviate the tight supply of iron ore in China, and have important strategic significance for improving the level of iron ore resources in China.

On July 29, 2010, China Aluminum Corporation and Rio Tinto entered into a legally binding Simandu joint development agreement on the Ximandu iron ore project. The two parties will establish a joint venture to jointly develop the Simandu project.

The Chinese consortium is a joint venture between China Aluminum Corporation based on the "Joint Development Agreement" signed with Rio Tinto and is jointly established by several Chinese companies for the joint investment in the Simandou project in Guinea. Chinalco Iron Ore Holdings Co., Ltd. is a platform for the Chinese consortium to invest in Guinea’s Simandu project. It is controlled by China Aluminum Hong Kong Co., Ltd. and is mainly responsible for investment in Simandu project, participates in the management of the project construction period, and is responsible for the rights and interests of the Chinese minerals. Sales and so on.