On the afternoon of November 5th, his Excellency Siyabonga Cwele, South African Ambassador to China, visited Pengxin for investigation with his delegation. Wang Jinding, chairman of Pengxin and relevant leaders accompanied them throughout the visit, during which the two sides have made a thorough discussion and communication.

Ambassador Siyabonga Cwele paid a visit to the corporate culture exhibition hall of Pengxin Group at first with his delegation where they watched a film to understand the development history, strategic layout, business planning and corporate culture, etc., of Pengxin Group, after which he spoke highly of the business development of Pengxin Group.

At the conference, chairman Wang Jinding warmly welcomed ambassador Siyabonga Cwele and his companion to Pengxin. After giving a brief introduction to the basic situation of Pengxin, chairman Wang elaborated on the project situation, as well as medium and long-term development plan of their Orkney Gold Mine in South Africa.

Chairman Wang said that under the principle of abiding by the local laws and regulations of South Africa, Pengxin is actively promoting the development of the project in accordance with the development policy of "unified planning, large mine exploitation, step-by-step implementation and hardworking". At present, the Orkney Gold Mine is focusing on implementing the specific development work in stages. The investment and construction of phase I and phase II will gradually realize the gold production capacity of 10 tons/year to 20 tons/year. Meanwhile, during the investment and construction of the project, the Orkney Gold Mine will actively fulfill its social responsibilities, provide more than 2,000 jobs for local citizens and contribute to the development of local communities. It is worth mentioning that the development plan of the Orkney Gold Mine project will jointly cooperate with the first-class mine design companies both in South Africa and China, and strive to build the Orkney Gold Mine into a world-class modern gold mine. Chairman Wang extended a sincere invitation to ambassador Siyabonga Cwele with a wish that the ambassador and his team would have the opportunity to visit the Orkney Gold Mine in South Africa for field investigation and exchange.

Ambassador Siyabonga Cwele expressed his thankfulness to the invitation of chairman Wang Jinding first. He expressed that the economic and trade cooperation between South Africa and China has developed rapidly. China has become the largest trading partner and source of investment of South Africa. The senior leaders of China and South Africa have extended white hope for economic and trade exchanges between the two countries. The Orkney Gold Mine is a famous gold mine in South Africa. The government attaches great importance to the investment of Pengxin in the Orkney Gold Mine, which highly appreciates the contribution of Pengxin to creating employment opportunities and benefiting community development in South Africa. Meanwhile, he hopes that the company can bring China's advanced technology in mining development and construction to South Africa in the future.

Chairman Wang Jinding pointed out that some difficulties have indeed been encountered in the grand development of the Orkney Gold Mine in South Africa, such as investment tax reduction and exemption, customs clearance of mining equipment and materials, visa of Chinese personnel, ore theft and other issues in local. He hopes to get further support and help from the government of South Africa. Ambassador Siyabonga Cwele carefully replied to our demands one by one, and said that he would communicate with relevant governmental departments of the South Africa, build a communication bridge between relevant governmental departments of South Africa and the company, and effectively help the company solve relevant problems encountered in the development of the Orkney Gold Mine in South Africa. Meanwhile, Ambassador Siyabonga Cwele also warmly invited chairman Wang Jinding to participate in the next South Africa investment conference with his colleagues to further deepen bilateral exchanges.

Yusuf Timol, minister-counsellor of the South African Embassy in China, Gary James Smith, economic counsellor of the South African Embassy in China, Mbulelo Toli, political consul of the South African Consulate General in Shanghai, Rirhandzhu Mahlale, commercial consul of the South African Consulate General in Shanghai, Chen Guohua, deputy general manager of Pengxin, Li Xuecai, chief financial officer, Gan Fengwei, director of Investment Development Department, and Zhang Wen, manager of Planning and Finance Department, accompanied and attended the conference.