On October 11^th, Mr. JUNG HO YOUNG, Chairman of SAMSUNG C&T (hereinafter referred to as “SAMSUNG C&T”) in Greater China visited our company, and Mr. Wang Jinding, Chairman of Pengxin Mining, and other relevant leadership accompanied through the whole process and participated in the symposium to exchange.

Before the symposium, Mr. JUNG HO YOUNG, Chairman of SAMSUNG C&T in Greater China, and his delegation visited the Enterprise Culture Exhibition Hall of Pengxin Group first, and had an in-depth and comprehensive understanding of the development history, strategic planning, and enterprise culture, etc. Later, they watched the enterprise promo of Pengxin Mining and gave a highly praise for the business development of Pengxin Mining. 

At the symposium, Mr. Wang Jinding, Chairman of Pengxin Mining, extended a warm welcome to the arrival of Chairman JUNG and his delegation. As one of the Global 500 enterprise groups, SAMSUNG C&T has maintained good cooperation with Pengxin Mining in the field of bulk trade and it is an important partner of Pengxin Mining. Chairman Wang introduced the basic situation and the medium-and-long-term development program of the company in detail, especially the Congo (DRC) Project, South Africa Project, and subsequent construction projects. By the end of September, the copper production of the Congo (DRC) Project had reached a record high, which can not only guarantee the current demand of SAMSUNG C&T, and with the further release of the production capacity, it can meet the increased procurement requirements of SAMSUNG C&T as well. After the cobalt production line resumes production and reaches design capacity, its product international certification should be completed in accordance with the procurement requirements of SAMSUNG C&T. As a world-class large mine, the South Africa Project follows the development principle of “unified planning, large mining exploration, step-by-step implementation, and promotion through unremitting efforts”. At present, it is undergoing the demonstration of the overall development technical scheme with well-known consulting companies at home and abroad. At the meantime, we switched into high gear and began recruiting corresponding mining professionals to support the project. Some interested resources projects in China have been promoted and landed as well. We hope that the business cooperation between SAMSUNG C&T and Pengxin Mining can be upgraded to conduct in-depth cooperation in multiple levels and fields in the future. Chairman JUNG of SAMSUNG C&T said that SAMSUNG C&T has always maintained good cooperative relations with Pengxin Mining. Integrity is the foundation of an enterprise. Pengxin Mining is also an important cooperative enterprise of SAMSUNG C&T. In view of the mutual trust between both parties, we are also looking for opportunities to expand cooperation and hope to achieve strategic cooperation in other fields. SAMSUNG C&T and Pengxin Mining have clarified related issues and reached a broader strategic consensus on future cooperation and development through the exchange and interaction.

Accompanying officers include Min Tae-Ki, Vice Director of the Metal Business Department of the headquarter of SAMSUNG C&T in Korea, Bai Junxie, General Manager of the Metal Business Department of SAMSUNG C&T in Greater China, Manager Yangfang and Gong Yimin. Meanwhile, Chu Yuejiang, Executive Vice General Manager of Pengxin Mining, Li Xuecai, Chief Financial Officer, Hu Zhiyong and Zhang Meng, Managers of the Trade Department also accompanied and attended the symposium.