China Minmetals Corporation (hereinafter referred to as China Minmetals) was founded in 1950. metals and minerals as its core business, and a pilot state-owned capital investment company. By the end of 2022, China Minmetals had total assets of over RMB 1 trillion and 8 listed companies, including China MCC (601618.SH, 1618.HK) publicly listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange; five mainland-listed companies, namely, Minmetals Capital (600390.SH), Minmetals Development (600058.SH), China Tungsten High-tech (000657.SZ), Zhuzhou Smelter Group (600961.SH) and Changyuan Lico (688779.SH), as well as Minmetals Resources (1208.HK) and Minmetals Land (0230.HK) listed in Hong Kong. In 2022, it had operating revenue of nearly RMB 900 billion, ranking 58th among Fortune Global 500 companies.
In the development course of more than seven decades, China Minmetals has roughly gone through three main stages. From its establishment to the period right before the reform and opening up, China Minmetals, as a professional trading company, was a main channel for importing and exporting metal and mineral products, hardware products and building materials in China. After the reform and opening up, China Minmetals explored diversified and industrial development path in the market economic system, and it is one of the earliest enterprises in China to “go global”. In the new century, China Minmetals has started a strategic transformation featured by restructuring and acquisition in the metal mining industry. In particular, it conducted its strategic restructuring in 2015 with China Metallurgical Group Corporation (MCC Group), also a Fortune Global 500 company, and therefore took the lead in the world to involve in the whole industrial chain from resource acquisition and exploration to project design, construction, mining and beneficiation, smelting and processing, trade and logistics. After the restructuring, the Company becomes larger in scale, diversified in business forms, and stronger in risk resistance.
Today, China Minmetals takes “building a world-class metal and mining enterprise with global competitiveness” as its strategic vision, and undertakes the mission of “becoming a main force of resource guarantee and national metallurgical construction team”. It has formed a business system featured by “four beams and eight columns.” The “four beams” consist of metals and minerals, metallurgical construction, trade and logistics, and finance and real estate. The “eight columns” are mineral development, metallic materials, new energy materials, metallurgical engineering, basic construction, trade and logistics, financial services, and real estate development.
In the field of metals and minerals, the Company has rich reserves. It has 38 domestic and overseas mines in Asia, Oceania, South America and Africa, including 15 overseas mines. It manages world-class mines including the Las Bambas Copper Mine in Peru, Dugald River Zinc Mine in Australia, Ramu Nickel-Cobalt Mine in Papua New Guinea, Shizhuyuan Mine, which are operating stably. The metal varieties operated by China Minmetals cover more than 70% of China’s Strategic Mineral Catalogue. China Minmetals’ part of indicated resources and all undiscovered resources of tungsten, crystalline graphite and bismuth are among the top list in the world, and that of copper, zinc, lead and antimony are ranked among the first echelon in the world.
As for metallurgical engineering construction, China Minmetals is the pioneer and main force of China’s steel industry. It has successively undertaken the planning, investigation, design, and construction projects of major large and medium-sized domestic steel enterprises, accumulated core technical advantages and design and construction capabilities throughout all links. Besides, it has taken the initiative to go global by undertaking design and construction projects of some global large and medium-sized greenfield steel facilities. Relying on the advantages of its high-tech construction developed in the field of metallurgical construction for many years, China Minmetals has transformed and upgraded itself, and made outstanding achievements in transportation construction, high-end housing construction, municipal environmental protection and theme parks, etc.