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The reporter was informed that Zhou Zhongshu, member of the National Committee of the Chinese People's Political Consultative Conference and president of Minmetals Group, who is attending the "two sessions" in Beijing, said yesterday that Minmetals expects to establish further strategic cooperation with domestic non-ferrous metals companies and achieve more and more domestic non-ferrous metals through cooperation or integration. The alliance of companies is the company's strategic goal.
The three proposals submitted by Zhou Zhongshu involved the integration and revitalization plan of the non-ferrous metal industry, the improvement of the construction of the mineral rights market, and the special support policies for taxation of metallurgical mining enterprises. Among them, mergers and acquisitions became the protagonist.
Zhou Zhongshu pointed out that the restructured enterprises may have compliance problems in the investment projects that have been launched in the past. For example, in the enterprises that large-scale key enterprises intend to acquire and integrate, although their production emission standards are all qualified, they have not been obtained in the past due to historical reasons. The corresponding approvals have affected the integration strength and effectiveness of this industry. Zhou Zhongshu suggested that the national authorities issue a guiding or supporting catalogue to address the “original crimes†of these corporate compliance.
In addition, after the introduction of the “Non-ferrous Metals Industry Adjustment and Revitalization Plan†in 2009, there were also some problems in the cross-regional mergers and acquisitions. Zhou Zhongshu said that some of the restructured enterprises had received financial support from the central or local governments, and there were incomes from mine enterprises' tailings pond management funds and river basin environmental management funds, but these policies could not be continued after the central enterprises reorganized them.
Minmetals Group attacked the city last year and invested RMB 10 billion to acquire, acquire and build a group of mining companies, including the acquisition of Australia OZ Mining Company to form MMG Company, the holding company of Hunan Nonferrous Metals Holding Group, and the restructuring of Changshu Kehong Department. Reorganize Qinghai Qingtai Trust Company. Some insiders analyzed that if Minmetals has the desire to integrate resources and further promote mergers and acquisitions of domestic and foreign resource companies, then funds will definitely be a big problem. Undoubtedly, this problem can be solved through listing financing.
Minmetals will continue to integrate domestic non-ferrous industries
China Minmetals Corporation (hereinafter referred to as Minmetals) did not stop the merger after it acquired 7 companies including Changsha Research Institute of Mining and Metallurgy and Luzhong Metallurgical Mining Group.