CNMC Joins Hands with Ivanhoe for Win-win Cooperation

19 Aug 2020

On August 18, CNMC and Ivanhoe Mines signed a strategic partnership agreement in Beijing. Wang Tongzhou, Chairman of the Company's Board of Directors and Chairman of the Holding Group, Robert Frilander, Founder and Co-chairman of Ivanhoe Mines, and Sun Yufeng, Co-chairman, witnessed the signing and held talks between the two sides through cloud video. Fan Wei, Executive Director and Vice President of the Company, presided over the ceremony. Zhang Jinjun, Vice Chairman of the Company, and Zhou Chao, Executive Vice President of Ivanhoe Mines and Head of China's Business, signed on behalf of both parties.

During the talks, Chairman Wang Tongzhou said that Ivanhoe Mines is a world-renowned mining enterprise. As a leading enterprise in the "going global" of China's non-ferrous industry, CNMC is willing to work with other giants in the industry since cooperating is the best way to learn and benchmark. Since the beginning of the year, the Covid-19 pandemic has affected mining enterprises all over the world. We hope to strengthen coordination and cooperation with Ivanhoe Mines to jointly deal with the impact brought by the Covid-19 pandemic. This time the two sides have signed a strategic cooperation agreement at the group level at such a special moment, which reflects the two sides' value for complementary cooperation and common development, and also reflects the determination and confidence of CNMC to build a world-class mining enterprise. It is hoped that the two sides will take this signing as an opportunity to push forward the conclusion and implementation of core projects as soon as possible based on the principle of mutual benefit and win-win. At the same time, they will discuss and innovate cooperation modes, so as to bring more projects to practice in substance and jointly create a model of cooperation in the mining field.

Chairman Robert said that the strategic cooperation with CNMC has provided opportunities for cooperation between the two sides in the fields of mineral exploration, mining planning and development, acquisition and divestment of mineral projects, logistics and smelting. It is hoped that the two sides will further deepen cooperation and coordination to maximize the synergistic effect.

Chairman Sun Yufeng said that the cooperation with CNMC is conducive to the development of Ivanhoe's existing business. He believed the two sides will surely achieve win-win cooperation and common development in more fields.

Persons in charge from relevant departments of CNMC and the funded enterprises, as well as relevant personnel of Ivanhoe Mines China, participated in the signing ceremony.

The two sides exchanged souvenirs