HONG KONG - (ACN Newswire) - Jinchuan Group International Resources Co Ltd (collectively "Jinchuan International"; HK:2362) entered into a Strategic Framework Agreement with Junhe Holdings Ltd ("Junhe Holdings") in which Junhe Holdings will make equity investment in the Company by either subscribing to new shares or by acquiring existing shares, and the partners will establish several Joint Ventures in Shanghai for different businesses, including a trading joint venture for trading commodities including non-ferrous metals, precious metals and chemical raw materials, a factoring joint venture and a financial leasing joint venture.
Junhe Holdings is a 84.14% subsidiary held by Shanghai Junhe Group Co., Ltd ("Junhe Group"), an integrated conglomerate established in Shanghai and a well-known private enterprise in mainland of China, including (i) the global trading of non-ferrous metals, precious metals, energy products (such as petrochemicals, wood pulp, coal, mineral resources and other international and domestic trades); (ii) industry investment (such as manufacturing and sales of aviation equipment and heavy machinery); (iii) financial services (such as financial leasing, factoring, fund management, internet finance and supply chain finance).
Junhe Group ranked 39th amongst the top 500 private enterprises in the PRC and 23rd amongst top 100 enterprises in Shanghai this year. It also received the title of "Enterprise of Contractual Performance and Creditworthiness" from the State Administration for Industry and Commerce of the PRC on numerous occasions and ranked 2nd amongst the top 100 private enterprises in Shanghai.
Mr. Chen Dexin, Executive Director and CEO of Jinchuan International, said, "The cooperation with Junhe Holdings will leverage competitive advantages of both parties, realizing organic integration of brands, channels, resources, capital and talents and achieving strategic and synergetic effect as a whole. The move today signifies two companies cooperating to build for the future. It also actualizes the Jinchuan culture of an "honesty" and "win-win" alliance of two strong forces and mutual beneficial rationales. It even lays a strong foundation for healthy growth with stability and sustainability."
About Jinchuan Group International Resources Co. Ltd.
Jinchuan International is a Hong Kong listed company (HK:2362) established by the Jinchuan Group Co., Ltd for the purposes of accelerating the establishment of the mining group's multinational operational strategy and elevating Jinchuan Group's global investing, financing and operating capabilities. The Company is primarily engaged in the development of overseas mining resources projects, capital operation and assets management of overseas mining resources projects, as well as trading of raw materials and products of nickel, copper, cobalt and precious metals. Please visit www.jinchuan-intl.com.
About Jinchuan Group Co., Ltd.
Jinchuan Group Co., Ltd, founded in 1958, is a state-owned enterprise with its majority interest held by the People's Government of Gansu Province. Jinchuan Group specializes in mining, concentrating, metallurgy, chemical engineering and further downstream processing. Jinchuan Group is widely recognized as a renowned mining corporation and is the fourth largest nickel producer and second largest cobalt producer in the world and the third largest copper producer in the PRC. Please visit www.jnmc.com/english/index.html.