On July 26th, Mr. Chen Jinghe, Chairman of Zijin Mining met with Mr. Chi Jianxin, Chairman of China-Africa Development Fund in Xiamen to discuss issues on how to strengthen cooperation between the two entities.
After listening to Zijin’s review on its African strategy and implementation, Chairman Chi spoke highly on Zijin’s development and prospects, especially the inspiring achievements and experiences it had acquired from its operations in Africa. Chairman Chi said China-Africa Development Fund, as the largest private equity fund in China, a Africa-specialized fund as well as one of Zijin’s shareholders, will provide full support to Zijin’s African investment.
In recent years, Zijin Mining proactively participated in the cooperation along “one belt on road”, and invested mines in 9 foreign countries among which African projects were spotlighted by the Company’s management. So far, Zijin has Kolwezi Copper Mine (production commencement in June 2017) and Kamoa Copper Mine (under feasibility study) in the Democratic Republic of Congo, and Garatau PGM Mine in the South Africa (under feasibility study optimization). In June, Zijin Mining completed the issuance of non-public issuance of A shares. The total amount of proceeds raised was approximately RMB 4.6 billion. After the issuance, China-Africa Development, with subscribed amount of RMB 1 billion, became the 5th largest shareholder of the Company.