Zijin Mining : (H Share)Revision of Annual Cap for Existing Continuing Connected Transaction

The Board of the Company announced that on 8 September 2016, Xinjiang Ashele, a subsidiary of the Company, as the seller, entered into the Supplemental Agreement to the Copper Concentrates Supply Contract with Xinjiang Non-ferrous Materials, as the buyer, pursuant to such Supplemental Agreement it is agreed that, on the basis of the Original Copper Concentrates Supply Contract, an extra quantity of not more than 9,000 tonnes of copper metals in concentrate form will be supplied, subject to an extra amount of transaction of not more than RMB400 million, for a term effective from 10 April 2016 to 31 December 2016. Except for the new annual caps on sales quantity and sales amount, all other terms in the Supplemental Agreement are the same as those in the Original Copper Concentrates Supply Contract.

The Company is one of the substantial shareholders of Xinjiang Ashele, currently holding 51% equity interest in Xinjiang Ashele. Xinjiang Non-ferrous Metal Industry (Group) Company Limited and its subsidiary China Non-ferrous Metal Import and Export Xinjiang Corp. together hold 34% equity interest in Xinjiang Ashele. Xinjiang Non-ferrous Materials is a wholly-owned subsidiary of Xinjiang Non-ferrous Metal Industry (Group) Company Limited. Xinjiang Non-ferrous Materials is an associate of Xinjiang Non-ferrous Metal Industry (Group) Company Limited and a connected person to the Company (as defined in the Listing Rules). Therefore, under Chapter 14A of the Listing Rules, the transaction under the Supplemental Agreement constitutes a continuing connected transaction of the Company.

The Continuing Connected Transaction, which is continuous in nature, was entered into in the ordinary and usual course of business of the Company. After entering into the Supplemental Agreement, as one or more of the applicable percentage ratios (as set out in the Listing Rules, except the profit ratio) in relation to the transaction is, on an annual basis, more than 1% but all the applicable percentage ratios are less than 5%, the transaction constitutes a continuing connected transaction of the Company under Chapter 14A of the Listing Rules with exemption on the circular and approval from Independent Shareholders, but is subject to annual review, reporting and announcement requirements under Chapter 14A of the Listing Rules.

The Board of the Company announced that on 8 September 2016, Xinjiang Ashele, a subsidiary of the

Company, as the seller, entered into the Supplemental Agreement to the Copper Concentrates Supply Contract with Xinjiang Non-ferrous Materials, as the buyer, pursuant to such Supplemental Agreement it is agreed that, on the basis of the Original Copper Concentrates Supply Contract, an extra quantity of not more than 9,000 tonnes of copper metals in concentrate form will be supplied, subject to an extra amount of transaction of not more than RMB400 million, for a term effective from 10 April 2016 to 31 December 2016. Except for the new annual caps on sales quantity and sales amount, all other terms in the Supplemental Agreement are the same as those in the Original Copper Concentrates Supply Contract.

SUPPLEMENTAL AGREEMENT

area (as determined by the date of delivery of the goods; the 1st day to the last day of each month) as a benchmark price multiplied by a relevant price coefficient;

The terms of the Supplemental Agreement were arrived at after an arm's length negotiation between Xinjiang Ashele and Xinjiang Non-ferrous Materials.

Xinjiang Ashele and Xinjiang Non-ferrous Materials entered into the Original Copper Concentrates Supply Contract on 20 June 2016. The term of the Original Copper Concentrates Supply Contract is effective from 10 April 2016 to 31 December 2016. During the period from 1 January 2016 to 31 July 2016, Xinjiang Ashele sold copper concentrates containing 6,741.0454 tonnes of copper metal to Xinjiang Non-ferrous

Materials and the sales amount was approximately RMB210,969,700 under the Original Copper Concentrates Supply Contract. The Company confirms that the transaction amount from 1 January 2016 up to the date of this announcement is within the original annual cap for the year ended 31 December 2016.

Pursuant to the Original Copper Concentrates Supply Contract, it was estimated that Xinjiang Ashele would sell copper concentrates containing not more than 8,000 tonnes of copper metal in concentrate form to Xinjiang Non-ferrous Materials with an annual cap of RMB300 million. As all of the applicable percentage ratios (as set out in the Listing Rules, except the profit ratio) under the Original Copper Concentrates Supply Contract are, on an annual basis, less than 1%, the transaction constitutes a de minimus transaction of the Company under Chapter 14A of the Listing Rules and is fully exempted from circular, shareholders' approval, annual review and all disclosure requirements.

Due to the production requirement of downstream customers, Xinjiang Ashele and Xinjiang Non-ferrous Materials agreed to enter into the Supplemental Agreement. Except for the new annual caps on sales quantity and sales amount, all other terms in the Supplemental Agreement are the same as those in the Original Copper Concentrates Supply Contract.

The Company proposes that the maximum amount (the "New Annual Cap") of the Supplemental Agreement for the year ended 31 December 2016 to be RMB700 million. The table below sets out the original annual cap and the New Annual Cap under the Original Copper Concentrates Supply Contract and the Supplemental Agreement, respectively:

The New Annual Cap of the Supplemental Agreement is determined with reference to the production plan of Xinjiang Ashele and the planned requirement of Xinjiang Non-ferrous Materials. It is estimated that Xinjiang Ashele will sell copper concentrates containing not more than 17,000 tonnes of copper metal in concentrate form to Xinjiang Non-ferrous Materials in 2016. The breakdown of the transaction value is as follows: