Zijin Mining Group Co., Ltd. : Zijin Holds 2014 Annual Work Meeting

13 Feb 2014

On 11 February 2014, the Annual Work Meeting of Zijin Mining Group Co., Ltd (herein and after "Zijin Mining", "the Group" or the "Company") was grandly held. The topical subject of the meeting is to implement the decisions of developmental strategy seminar conducted by the Board of Directors, and arrange the operational work for 2014. It is a mobilization meeting for the whole year of 2014.

Mr. Chen Jinghe, Chairman of Zijin Mining, gave an opening speech. He said that currently we're facing very serious situation with swinging of gold and copper prices, and decrease of mine grade. Our failed in stopping the rising trend of operational cost and the Group has negative growth in profits in two successive years.

Mr. Chen pointed out that the general requirements for 2014 is to guarantee growth of operation, including a sales revenue over 50 billion yuan, growth or substantial growth of production of gold, copper and zinc, a substantial increase in mineral resource reserves. The core mission in 2014 is to increase the net profit to the Company.

Chen Jinhe also makes some remarks and requirements on M&A of medium and large oversea projects, losses reduction of subsidiaries, reduction of number of subsidiaries, HR, plan and management of budget, marketization of enterprises, and safety and environmental protection.

President of Zijin Mining Group Wang Jianhua makes his annual operational report on the meeting.

The report says, in spite of the severe economical situation at home and abroad and the internal operation and management pressure in 2013, we achieved the main operational indexes and had a good operational performance. We strictly dealt with safety, environmental protection and ecological civilization issues and obviously strengthen our consciousness on them. We gained achievements in M&A to continuously increase our total resource reserves. We actively developed projects for new productive capacity and rectified the outsourcing partners of engineering. We carried out benchmarking to improve our comprehensive capability of operation and management. We gathered our technical strength to enhance innovation and development. We improved the management of HR system with marketization. We broaden the financial channels to improve the capital management. We enhanced the image building of the Company to construct a harmonious environment for development.

Wang said that we must fully understand and get ready to deal with the uncertainty of global economic situation and the risk of prices decrease of gold and bulk stock while swinging and adjustment in 2014.

In order to fulfill the annual plan and indexes Mr. Wang makes requirements in his report, including building core competence in safety and environmental protection, innovating mechanism to ensure the accomplishment of annual operation plan, improving the capacity of sustainable development, enhancing the management of senior managers, improving the managing levels of finance, supervision, science and technology, project construction and logistics management, and building an excellent company image.