Win-win development Minmetals Group restructuring Changsha Research Institute of Mining and Metallurgy

According to Hunan Online-Hunan Daily reported on November 18th that one of the world's top 500 enterprises in the metal mining industry, and one is the national ace research institute in the field of mining and metallurgy. This morning, China Minmetals Corporation and Changsha Research Institute of Mining and Metallurgy reorganized. The conference was held in Changsha. The Changsha Research Institute of Mining and Metallurgy will be integrated into China Minmetals Corporation through the free transfer of state-owned assets and become a wholly-owned subsidiary of Minmetals. Zhou Qiang, deputy secretary of the provincial party committee and governor, Zhou Zhongshu, president of China Minmetals Corporation, and Liu Zhenjiang, party secretary of China Iron and Steel Association, attended the reorganization meeting.
Minmetals Group is a large-scale central enterprise group that is mainly engaged in the development, production, trade and comprehensive services of metals and mineral products. In 2008, it achieved sales revenue of 185.3 billion yuan. At present, Minmetals ranks 331th among the world's top 500 companies. Established in 1955, Changsha Mining and Metallurgy Department is directly affiliated to a large-scale science and technology enterprise. It has three major business activities: comprehensive development and utilization of mineral resources, development and production of new materials, and research and development of civilian explosive equipment. It aims to overcome common technical problems in the industry and enhance the development of mineral resources in China. He has made outstanding contributions with the comprehensive utilization level.
Zhou Zhongshu pointed out that the reorganization of Minmetals Group and Changsha Mining and Metallurgy is to implement the central government's major strategic choices for accelerating the pace of restructuring of central enterprises and cultivating large-scale enterprise groups with international competitiveness, which is conducive to the optimization and adjustment of state-owned capital and structural upgrading. Conducive to the reorganization of the two sides' complementary advantages and win-win development. According to the restructuring agreement, Minmetals will exert its advantages in mining resources, financial strength, management capabilities, professional marketing capabilities and international channels to provide strong support for Changsha Mining and Metallurgy, promote resource allocation and further promote strategic transformation. Speed ​​up development into a leading international metal mining group. Changsha Mining and Metallurgy will use the development platform of Minmetals Group to continuously strengthen scientific research in the field of comprehensive utilization of mineral resources, and quickly create a research and development platform for Minmetals Group to master key technologies and independent intellectual property rights.
In addition, the Minmetals Group decided to increase the capital of Changsha Mining and Metallurgy Institute by RMB 200 million and provide three-year interest-free working capital support of RMB 100 million. The two parties will jointly turn Changsha Mining and Metallurgy into a domestic first-class and internationally competitive metal mineral technology enterprise.
Wu Jihai, Secretary General of the Provincial Government, and Wang Xiaoqi, Director of the Planning and Development Bureau of the State-owned Assets Supervision and Administration Commission of the State Council attended the reorganization meeting.

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