Jiangxi Copper Corporation Limited Signs Strategic Cooperation Agreement with Yantai City

Recently,the Yantai Municipal Government signed a strategic cooperation agreement with Jiangxi Copper Corporation Limited,planning to carry out all-round strategic cooperation in energy-saving and environmental-friendly smelting technologies,high-end industrial chains,and logistics and finance.

Yantai is making every effort to build a comprehensive experimental zone and core area for old and new kinetic energy conversion in Shandong Province,and strives to build an advanced manufacturing industry.It hopes to leverage the unique advantages of Jiangxi Copper to build Yantai into an important copper industry base in northern China.

Jiangxi Copper stated that Yantai is a strategic fulcrum city for the maritime cooperation of the Belt and Road and enjoys a good geographical advantage and industrial base.Jiangxi Copper willexertits advantages in technology,managementand capitalto strengthen its strategic cooperation with Yantai City in more areas and achieve a win-win situation.

Yantai boasts a solid economic foundation and the largest manufacturing cluster in Shandong Province.The nonferrous and precious metals processing industry is one of the“7+N”leading industries that Yantai has cultivated.Yantai is actively constructing an 180,000-ton copper cathode green,energy-saving relocation project.The project is expected to be completed and put into operation within three years,with an annual operating income of 12 billion yuan,annual import of copper concentrates of 900,000 tons,and total import volume of 2 billion US dollars.

The implementation of the copper smelting and processing capacity distribution in the regions with advantageous geographical location in China is a strategic need for Jiangxi Copper to implement the “copper-based”strategy and build a world-class company,as well as a choice made to give play to its role as an industry leader and promote the optimization and upgrading of the domestic copper industry.The signing ofthisstrategic cooperation agreement will become a new opportunity for the development of the copper smelting highend industrial chain in Yantai,and provide a broader space for Jiangxi Copper’s globalization strategy.