On December 22, 2011, the ceremony for the establishment of the Club of Central Mining Enterprises (hereinafter referred to as the Club) was held at China Beijing International Mining Exchange (CBMX).
Leaders of some central mining enterprises, CBEX and CBMX attended the ceremony, which was presided over by CBMX president Dong Chaobin. CBEX president and CBMX chairman Wu Ruchuan said, as the backbone of the national economy, the central enterprises play a very important role in the national economy, especially in the mining sector, where the scale, strength and competitiveness of the central enterprises have been greatly improved. It is expected that the Club can serve as a platform for enhancing the communication between CBEX and the central enterprises engaged in mining so as to give full play to the functions of the capital market for the distribution of mineral resources and lead more social resources to the high-quality mining projects. Li Laimin, a representative of such enterprises and general manager of China Xinxing Mining & Chemical Engineering Corporation, delivered a speech, hoping that the Club can be built into a platform for the integration of mineral resources and capitals, collection of professional information and exchange of expertise.
The Club was established in September under the initiation of CBMX. It has got the support of a great number of central mining enterprises. The Club members include: China National Gold Group Corp, China Huaneng Group, Chinalco Mineral Resources Co., Ltd, China Datang Corporation, No.1 Bureau of China Metallurgical Geology Bureau, China Xinxing Mining & Chemical Engineering Corporation, Xinxing Cathay International Group, Sinosteel Assets Management Co., Ltd, China Railway Resources Group Co., Ltd and China National Geological & Mining Corporation.
The Club is a non-profit association of enterprises, targeting at promoting the communication and cooperation between the central mining enterprises and CBMX to explore the economic value of mineral resources and project information.
CBMX, which was established under the approval of the People's Government of Beijing, serves as a public service platform for exchanging mining rights and mineral products. It has been designated by Beijing Municipal Bureau of State Land and Resources as the organization for exchanging mining rights. Meanwhile, it is also an important part of the factor market of Beijing. Since established on July 22, 2010, CBMX has been following the operation principle of "capitalization of resources and internationalization of capital" to deal with exchange of mining rights and large-scale mineral products. It has been insisting the combination of institutional innovation and technological innovation, which enable it to play a leading role nationwide in the construction of the tangible mining rights market. The establishment of the Club will further expand the business channels of CBMX for investment and financing for mining business and improve the capability of CBMX for providing professional services.