On 23rd August, Pengxin Mining signed a strategic cooperation agreement with Ganzhou Industrial Investment Holding Group (hereinafter referred to as ‘Ganzhou I&I Group’).

Wang Jian, Chairman of Pengxin Mining, Chu Yuejiang, Assistant to the Chairman, Yang Xiaobin,Secretary of the Party Committee and Chairman of the Board of Ganzhou Development Investment Holding Group (hereinafter referred to as ‘Ganzhou Development Group’), Liao Shengxing, Deputy General Manager, and Huang Shengji,General Manager of Ganzhou I&I Group, attended the signing ceremony.

Pengxin takes mining as the core and foundation of the company's industry, focusing on the development of copper, gold, cobalt and other metal resources. The Company owns many high-quality assets, such as the Congo (DRC)  Shituru Copper Mine and the South African Orkney Gold Mine, and is actively searching for and developing high-quality mine resources in China. Moreover, Pengxin Mining has made use of diversified investment methods to select domestic and overseas high-quality resources for industrial layout, further improve its asset structure and optimize the combination of stock and incremental assets. Pengxin Mining is working step by step to realize the linkage of domestic and overseas industries in accordance with the Company's domestic and overseas “double-wheel drive” development strategy, to further strengthen the core competitiveness of the Company, making efforts towards the vision of becoming a “world-leading integrated resource service provider”.

Ganzhou Development Group is the largest shareholder of Ganzhou I&I Group, the investment and financing service platform of Ganzhou municipal-level major industries and projects, and the municipal state-owned capital investment company, with a total asset of more than RMB 300 billion, and is also the only municipal-levelstate-owned enterprise in the six central provinces that has been awarded the AAA main credit rating by CCXI and Golden Credit Rating, as well as the double investment grade rating by Moody's and Fitch. Ganzhou Development Group now operates two business sectors, namely finance and industry, with 11 wholly-owned and holding subsidiaries, and the financial sector integrates funds, financial leasing, commercial factoring, microfinance, and enterprise working capital, basically realizing the full license of ‘7+4’ in local finance. The industrial sector of Ganzhou Development Group includes new energy, business management, infrastructure construction and operation fields,leading the promotion of the integration of lithium and fluorspar resources and the development of mining economy in Ganzhou, and striding forward on the construction of a 100 billion mining industry cluster. Ganzhou Development Group participated in the formation of the central enterprise China Rare Earth Group, holding 20.33% of the equity of China Rare Earth Group, with Aluminum Corporation of China, China Rare Earth Group Resources Technology Co., Ltd., and become the second largest shareholder of the central enterprise China Rare Earth Group,which is the only local state-owned enterprises shareholders.

According to the strategic co-operation agreement, all parties will carry out comprehensive strategic co-operation in terms of investment and development of mineral resources in Ganzhou, cultivation of local industry development and value-added empowerment of listed companies. Based on the mineral resources of Ganzhou,this cooperation will realize the development reserve and business layout of Pengxin Mining in domestic metal mineral resources. It will also contribute to the business layout of Ganzhou I&I Group and Ganzhou Development Group in the “double-wheel drive of finance and industry, and synergistic development of production and financing”, and further promote the realization of the function and mission of serving the development of major industries, the construction of major projects as well as the overall development of the county economy in Ganzhou.

In the future, all parties will further play to their strengths, fully complement each other's strengths, and take advantage of the listed company platform of Pengxin Mining as well as the advantages of globalized industrial layout, combined with the rich metal mineral resources of Ganzhou and the resources advantages of state-owned enterprises, to jointly build an industrial development base with Ganzhou as the core, opening up a new chapter of dual-drive and synergistic development of Pengxin Mining both at home and abroad.