Transfer of Jinde Lead Equities:A Leap Forward for the Reconstruction of JXCC

To promote the reform of state-owned plants and to support the further development of JXCC, the equities of Jinde Lead were transferred, under the decision of the Provincial CPC and Provincial Government, to JXCC,making the latter the major share holder.

Formerly held by JMGC, Jiangxi Jinde Copper Co. Ltd. was founded by over 10 shareholders including Jiangxi Qibaoshan Lead-Zinc Mine,Zhejiang Yunwushan Mining Co., Ltd. and JXCC on Dec 7, 2007 with a registered capital of 207.12 million. Phase I 80,000-ton electrolytic lead project was commenced on Dec. 10,2007 and put into operation on Dec. 13,2008.Except for electrolytic lead, byproducts like sulfuric acid, gold, silver, copper, zinc,bismuth and antimony were also provided.Rich oxygen under-gate blast reduction technology was used in this project.

JXCC said that the equity transfer was an important decision of Provincial CPC and Provincial Government to promote the reform of state-owned plants. JXCC was now responsible for the success of Jinde Lead, and they were provided with the competency to do so. JXCC would, in line with the Corporate Law, work closely with shareholders, the management and employees to promote the efficient management of Jinde Lead and make Jinde become more successful.