Minmetals Group: Targeting non-ferrous iron ore coal with MMG as a mineral investment platform

Zhou Zhongshu, president of China Minmetals Corporation, said at the Melbourne Mining Club dinner on the 19th that as a investment in Minmetals in Australia, MMG will continue to focus on mining assets with good investment value as an international investment platform for China Minmetals. transaction. According to foreign media reports, Zhou Zhongshu has asked MMG CEO AndrewMichelmore to seek acquisition targets. The target will first target non-ferrous metal assets, as well as iron ore and coal assets. According to Zhou Zhongshu, he hopes to list some assets of Minmetals Group and MMG, and is still considering the timing and listing location.

In 2009, China overtook Japan to become Australia's largest trading partner. The total trade between the two countries is currently about A$78 billion, accounting for about 20% of Australia's total trade. In contrast, China-Australia bilateral investment has continued. Growth, but the growth rate lags behind the trade between the two countries. The data shows that from November 2007, the Australian government has approved more than 160 proposals for Chinese investment in Australia, worth about 60 billion Australian dollars.

Zhou Zhongshu believes that Minmetals has carried out a series of mining investments on a global scale, bringing not only assets but also human resources to the company. Since its inception in June 2009, MMG has invested approximately $4.4 million in local communities in community and local business development, education and training, sponsorship and capacity building. About half of MMG's Sepon copper-gold mine in Laos comes from local communities, and another 35% comes from other parts of Laos. About 20% of the workforce in the Century zinc mine in Australia is Aboriginal.

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