Zhongrong Xinda Group And Jiangxi Copper Corporation Signed Strategic Partnership Framework Agreement

Zhongrong Xinda Group And Jiangxi Copper Corporation Signed Strategic Partnership Framework Agreement

Recently, Zhongrong Xinda Group and Jiangxi Copper Corporation signed the strategic partnership framework agreement at the headquarters of Jiangxi Copper. At the ceremony, Wang Qingtao, Chairman of Zhongrong Xinda Group, and Long Ziping, Chairman of Jiangxi Copper Corporation, cosigned the Strategic Partnership Framework Agreement on Gold-Copper-Cobalt-Iron Polymetallic Deposit Project in Pampa de Pongo, Peru. The two parties proposed to establish a joint venture to jointly develop and operate the Project.

The planned investment of Phase I project was approx. USD 2.692 billion, which is used for construction of mining, concentration, sea water desalination, power transmission and transformation line and supporting public and auxiliary utilities. Upon the execution of the Agreement, the two parties will establish a special project team to implement the project.