On May 26, Zijin signed an agreement respectively with Ivanhoe and Barrick in Xiamen, to enter into strategic cooperation relation with the two international mining giants, jointly developing the world class- ld and copper mine.

According to the agreements, Zijin acquired 49.5% stake of Kamoa copper project in DR Con and 50% stake of Porgera ld project from Barrick with total consideration of USD 2.52 billion and 1.82 billion, respectively, obtaining copper and ld resources of 24.16 million and 285 tons.

Mr. Chen Jinghe, Chairman of Zijin, said that Zijin is dedicated to providing high quality resources for “China Dream”. The development of Kamoa project is an important step for the internationalization of Zijin. The comprehensive cooperation between Zijin and Ivanhoe will influence the global mining industry significantly. Mr. Chen also said, that Barrick is the world’s largest ld miner, whom Zijin looks up to. Zijin will develop the friendly cooperation between two sides in utmost sincerity, expecting the mutual effort to “blossom”.

Mr. Robert Friedland, Chairman of Ivanhoe, said that Kamoa project is currently one of the largest undeveloped copper projects with the highest grade in the world. The solid economic and technical strength of Zijin can solve the potential problems, such as capex requirement in subsequent development and technical improvement, effectively, pushing the project forward to earlier production.

Mr. John Thornton, Chairman of Barrick, said that the management and shareholders team of Barrick have a common dream of building profound friendship with China and Chinese people. Today, Zijin and Barrick took the first step in long-term partnership. It’s bound to be a classic case of successful cooperation between Chinese and Western companies.

Industry analysts said,thatafter all these years of tracking and preparation, Zijin successfully acquired large ld and copper mines from Barrick and Ivanhoe in a downturn period of mining industry. It enables the company to increase profit and enhance capability for further development. As for Zijin, the two acquisitions are nice deals of high quality and fair price.