CHINALCO Invested RMB 40 Billion in Development of East Tibet Lead & Zinc Mine

At the end of 2011, CHINALCO Mineral Resources Co., Ltd. and Changdu Investment Co.,Ltd. jointly set up East Tibet Mining Co., Ltd.in Changdu, indicating that the cooperation between the both sides has taken the first step and will unfold a new mode for enterprises directly under the central government and local government to jointly explore mineral resources in the regions of ethnic minorities.

After many consultations and on the basis of the idea of combination of corporate development and support to Tibet, Changdu Prefecture and CHINALCO signed the Framework Agreement on Strategic Cooperation in Mineral Resources on August 13, 2010, according to which CHINALCO Mineral Resources Co.,Ltd. and Changdu Investment Co., Ltd. will jointly set up a joint-stock company - East Tibet Mining Co., Ltd. Amongst the initial registered capital of RMB 0.3 billion, CHINALCO Mineral Resources Co., Ltd. contributed RMB 0.18 billion, accounting for 60% of the total shares, while Changdu Investment Co., Ltd.contributed RMB 0.12 billion, accounting for 40%. The company mainly deals in mining of metal and nonmetal resources, geological survey and prospecting mineral resources.

It is reported that CHINALCO plans to invest RMB 40 billion in Tibet between the 12th and the 13th Five-Year Plan periods. According to the Framework Agreement on Strategic Cooperation in Mineral Resources signed by CHINALCO and Changdu Investment Co., Ltd.,RMB 10 billion will be arranged for consolidation and development of lead & zinc polymetallic mineral resources in East Tibet.