On June 27, 2019, the opening ceremony of the FirstChina-Africa Economic and Trade Expo was held at Hunan Changsha International ConventionCenter. Jointly sponsored by the Ministry of Commerce of the People’s Republicof China and People’s Government of Hunan Province, China-Africa Economic andTrade Expo was the sole economic and trade cooperation platform under themechanism of China-Africa Cooperation Forum. Centered on the theme of “win-wincooperation for closer China-Africa economic and trade partnership”, the expoaimed to create a new mechanism for economic and trade cooperation with Africa,further strengthen China-Africa economic and trade cooperation in the new era,and promote the development of China-Africa economic and trade cooperation to ahigher level. Thousands of people, including politicians, envoys, state(county, city) governor, representatives of international organizations,entrepreneurs, financial institutions, associations, purchasers, exhibitors,experts, scholars and media representatives, etc. from China and Africagathered in Changsha to enjoy the grand opening ceremony. 

The expo is divided into six parts, including China-Africa cooperation achievements exhibition area, African countries exhibition area, cooperation program case exhibition area, and China’s local exhibition area, etc. At China’s local exhibition area, 28 provinces, cities and autonomous regions have independent exhibition halls focusing on demonstrating the image of provinces, cities and autonomous regions, advantages for cooperation with Africa and key industrial projects, etc.

There were 15 enterprise exhibitors in Shanghai exhibition area at the first expo, and Pengxin Mining was invited to participate the expo as an outstanding representative of private enterprises in Shanghai. During the exhibition, Pengxin Mining displayed its achievements of China-Africa economic and trade cooperation and exhibited the mining products of Congo (Kinshasa) SMCO –cathode copper ores and copper plates of cathode copper. The exhibited cathode copper ores were derived from the 4725 plot of Congo (Kinshasa) Shituru Mining, which was located in the world-famous Zambia-Katanga copper belt and featured high grade, shallow burying and easy open mining. It was rare high-quality copper resources in the world. The copper plate of cathode copper exhibited was the main product of Congo (Kinshasa) SMCO, and its annual output has reached more than 30,000 tons for several consecutive years, its quality is superior and the copper content exceeds 99.99%, which is classified as A grade according to LME standard and has been praised as “the best electro deposited copper of the best quality in Africa” by customers.

 Over a long term, Pengxin Mining has been adhering to the development strategy of “going out” and actively responding to the “One Belt and One Road” initiative of the state, devoting itself in African mineral resources and creating all-round production capacity cooperation. Under the guidance of the “advantages-opportunities” business strategy, the company has attached most importance to high-quality copper, cobalt, gold and other in-production projects, while continuing to focus on tracking a series of key mining projects and actively carrying out major domestic and overseas project mergers and acquisitions. After years of deep industrial cultivation, the company has established an industrial chain with copper and gold mining and metallurgy as its core businesses in Congo (Kinshasa) and South Africa, and simultaneously it has focused on new energy industry related minerals, such as nickel, cobalt, lithium and other new materials. In June 2018, the company’s CAPM ORKNEY GOLDMINE in South Africa has been successfully incorporated into a listed company and produced gold ores. In September of the same year, its first-stage 3,000 tons cobalt hydroxide production line of Congo (Kinshasa) Shituru Mining SMCO has been completed successfully and put into production. The company has established a good reputation and brand influence in Africa, even the global market, by virtue of its advanced mining, selecting and smelting technology and its excellent quality mineral products. In the future, Pengxin Mining will further deepen its development in Africa, and continue to play its advantages to seek more high-quality mineral resources in Congo (Kinshasa), meanwhile, the company will take the South Africa as the “beachhead” for the business development in Africa, and based on the existing world-class gold mining assets ORKNEY GOLDMINE, the company will further explore and seek more cooperation and investment development opportunities.

The day before the opening ceremony, Shanghai Enterprise Symposium, which is jointly organized by Shanghai Municipal Commission of Commerce and Shanghai Municipal Council for the Promotion of International Trade, was successfully held, and Xu Kunlin, vice mayor of Shanghai, attended the meeting. At the meeting, vice mayor Xu Kunlin expressed his gratitude for their long-term contribution to China-Africa economic and trade cooperation, and congratulated Shanghai enterprises on their “going out” achievements, and expected that Shanghai enterprises could make more steady and solid progress in African countries in the future. Vice mayor Xu Kunlin pointed out that we should thoroughly implement the important instruction spirit of General Secretary Xi Jinping, and make steady and solid investment and construction in African countries with the guidance of creating a closer China-Africa community of shared future in the new era. Shanghai enterprises should form an alliance, strengthen information communication among enterprises, and jointly exert their respective advantages and face the problems encountered in the development process, so as to form Wild Goose Queue effect to achieve win-win cooperation, and practicably promote China-Africa economic and trade partnerships, and make greater contributions to China-Africa economic and trade cooperation.

 Against the background of booming development of “One Belt and One Road” construction and deepening China-Africa economic and trade relations, as well as the gradual recovery of global metal mining economy, Pengxin Mining will continue to increase its investment in Africa and further build influential and driving landmarking projects by following national policy calls and giving full play to its own advantages. In 2018, the company has successfully been selected as a benchmarking private enterprise into Shanghai enterprise service “One Belt and One Road” 5th anniversary typical case database, which fully demonstrated that Shanghai municipal government highly recognized the positive efforts of Pengxin Mining in servicing “One Belt and One Road” construction, as well as its achievements obtained in overseas investment and cooperation. The participation of Pengxin Mining in the First China-Africa Economic and Trade Expo will be more conductive for the company to seize the opportunity to fully participate in international competition and further explore the international market by taking the courage of pioneers and explorers and taking the Chinese dream as its own responsibility, so as to realize the internationalized, large scale and industry-leading diversified development strategy based on the four major fields including mining, new energy, trade and finance, and to bring a broader space for the transformation and upgrading of the company from the producer and retailer of mining resources to the leading global provider of integrated resources.