HONG KONG, Aug 16, 2016 – (ACN Newswire) – Jinchuan Group International Resources Co. Ltd (the “Company”, together with its subsidiaries, collectively referred to as the “Group” or “Jinchuan International”, SEHK: 2362) is pleased to announce the appointment of Mr. Chen Dexin as Chief Executive Officer (“CEO”) of the Company, effective 15 June 2016. Mr. Chen is a seasoned executive appointed out of his extensive mining industry experience. He aims at building Jinchuan International into a world-class mining company.
Mr. Chen joined Jinchuan Group Co., Ltd (“Jinchuan Group”), the controlling shareholder of Jinchuan International, following graduation and has long been responsible for frontline mining technology and management. He was promoted to General Manager of the No. 2 Jinchuan Mine (an underground mine), and in 2010 to Vice President, in charge of mine resources of Jinchuan Group.
During this period, Mr. Chen also performed as Chairman of the Board and Acting Chief Executive Officer of Metorex (Proprietary) Ltd (“Metorex”), a subsidiary of Jinchuan International, and as Deputy Chairman and Non-Executive Director of Wesizwe Platinum Ltd (“Wesizwe”), a company listed on the Johannesburg Stock Exchange in the Republic of South Africa.
Mr. Chen Dexin has rich practical experience in China and overseas. When he was the General Manager of the No. 2 Jinchuan Mine, he increased the annual capacity of the mine from 4 million tonnes to 4.4 million tonnes. And during his service at Metorex and Wesizwe in South Africa, he led multiple large-scale projects, such as the Ruashi copper and cobalt mine and Kinsenda copper mine in the Democratic Republic of Congo, the Chifupu project of the Chibuluma copper mine in Zambia, and the Bakubung Platinum Mine of Wesizwe.
Mr. Chen has an outstanding record in optimizing management and technical know-how. For instance, when faced with sluggish copper price, Mr. Chen committed to reducing costs of Metorex through sophisticated management, technical know-how, and creative reform, reducing operating expenses and capital expenditure by US$58 million.
Mr. Yang Zhiqiang, Chairman of Jinchuan International and Jinchuan Group said, “We are delighted to have Mr. Chen Dexin as the Chief Executive Officer of our overseas listed mining flagship. He has convincing managerial and operational experience and achievements both within Jinchuan Group and in the industry. We believe that leveraging on his professional background and expertise experience, he will lead Jinchuan International into a world-class mining company.”
When it comes to the future plans of Jinchuan International, Mr. Chen Dexin said, “Our principal goal is to develop four major aspects based on the long-term experience and leading role of Jinchuan Group. First, to build Metorex into a profitable mining company. Second, to enhance, consolidate and strengthen the international trading business. Third, to actively seek opportunities for further expansion. Fourth, leveraging on the advantages of Hong Kong, an international financial center, to develop investment and financing business. With the development of the four major aspects, Jinchuan International plans to start a service-providing business.
“Owing to Jinchuan Group’s experience and techniques in mining, concentrating, metallurgy of non-ferrous metal and equipment manufacturing, engineering construction and operation management, Jinchuan International is capable of vigorously developing these businesses and ultimately building a world-class mining company that focuses on copper and cobalt mines, with systematic integration from upstream to downstream, and development in mining, concentrating, metallurgy, and related businesses to reward our shareholders, our community and our country.”
About Jinchuan Group International Resources Co. Ltd
Jinchuan International is a Hong Kong listed company established by the Jinchuan Group Co., Ltd for the purposes of accelerating the establishment of the mining group’s multinational operational strategy and elevating Jinchuan Group’s global investing, financing and operating capabilities. By virtue of Hong Kong’s advantages as an international financial and trade center, and through the Company’s focus on an internationalized operating strategy, the Company has established itself as the flagship platform for the Jinchuan Group to develop its overseas non-ferrous metal mining business.
The Company is primarily engaged in the development of overseas mining resources projects, capital operation and assets management of overseas mining resources projects, as well as trading of raw materials and products of nickel, copper, cobalt and precious metals.
About Jinchuan Group Co., Ltd
Jinchuan Group Co., Ltd, founded in 1958, is a state-owned enterprise with its majority interest held by the People’s Government of Gansu Province. Jinchuan Group specializes in mining, concentrating, metallurgy, chemical engineering and further downstream processing. Jinchuan Group is widely recognized as a renowned mining corporation and is the fourth largest nickel producer and second largest cobalt producer in the world and the third largest copper producer in the PRC.
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