On September 23, Guo Wenqing, General Manager of China Minmetals and Chairman of MCC, led a delegation to Seoul, Korea and met with KimYong-hwan, Vice President of Hyundai Group and Hyundai Steel. The two sides held talks in a friendly atmosphere and had extensive and in-depth exchanges on further cooperation.
Guo Wenqing expressed his gratitude for the warm reception of Hyundai Group and introduced the development of main business of China Minmetals. He then reviewed the history of friendly cooperation between China Minmetals and Hyundai Group. Guo Wenqing said since 1992, China Minmetals had carried out trade cooperation with Incheon Steel, the predecessor of Hyundai Steel owned by Hyundai Group, in coal, coke, iron alloy and steel scrap, and supplied it with a large amount of ferrous metallurgy raw materials. In recent years, China Minmetals and Hyundai Group have developed rapidly and carried out broad cooperation. He hoped that the two sides could give full play to their industrial advantages, strengthen communication and synergy, seek cooperation in new business, further expand cooperation space, intensify cooperation at various levels to realize win-win development on the basis of the existing trade cooperation.
Guo Wenqing pointed out that China Minmetals takes Caofeidian 100-million-tons International Ore Trading Center as a bridgehead to focus on big customers and projects and carry out business cooperation with large international mining enterprises supported by steel enterprises in Tangshan so as to build a new iron ore trading system pattern. In terms of steel scrap recycling, China Minmetals has a recycling and processing platform, which has a broad development prospect under the support of the Chinese market with huge potential. It hoped to speed up and deepen the cooperation with Hyundai Group in steel scrap recycling by virtue of technical advantages of Hyundai Group and become the leading enterprise in the industry. China Minmetals also focuses on new energy vehicle battery material resources, and actively boosts the construction of new power. It is operating successfully the Papua New Guinea Ramu Nickel Ore Resources Project which ranks third in reserves in the world, and also devotes itself to the construction of projects such as Changyuan Lico Battery Cathode Materials,Caofeidian MCC RAMU New Energy Ternary Precursors and Minmetals Yanhu Lithium Extraction. The two sides can rely on the layout of China Minmetals in the new energy battery industry chain to strengthen technical exchanges and cooperation in the production of nickel and lithium metal products and further explore cooperation opportunities in new energy vehicles.
KimYong-hwan expressed his warm welcome and heartfelt thanks to Guo Wenqing and his delegation for their visit to Hyundai Group in their busy schedule. He agreed with Guo Wenqing's cooperation proposal and introduced the main business and recent development of Hyundai Group and Hyundai Steel. KimYong-hwan said that Hyundai Group fully recognized the stability and development potential of the Chinese market, as well as the strength and status of China Minmetals in multiple business fields and was looking forward to in-depth cooperation with such large central enterprise as China Minmetals. In particular, the Caofeidian Mixed Ore Center Project and the projects in new energy materials conform to the technology development strategies being carried out by Hyundai Group in green new energy and hydrogen fuel vehicles. Hyundai Group hopes to obtain new development impetus through the cooperation. KimYong-hwan proposed that the two sides establish a long-term cooperation and regular exchange mechanism on specific business fields and looked forward to their further cooperation in more fields so as to achieve mutual benefit and win-win results.
The two sides identified the project leaders to synergize the special work.
Jiao Jian, Deputy General Manager of China Minmetals, attended the meeting. Xu Mingchen, Shen Xuejun, Jin Zairong, Lu Xianghe and other relevant personnel of Hyundai Group, as well as Liu Qingchun, Han Guorui, Jiang Linguo and other relevant personnel of the directly-administered enterprises of China Minmetals also attended the meeting.
Guo Wenqing shaking hands with KimYong-hwan