- Approximately 5% equity interest in Century
- 10% production off-take from Duncan Lake Project
Minmetals Exploration & Development Co., Ltd. (“Minmetals”), a subsidiary of China Minmetals Corporation (“Minmetals Corporation”), is a mineral exploration and development company focused not only on iron, but also on other minerals such as coal, iron, silver, lead, zinc and tungsten. In recent years, Minmetals has operated dozens of signiﬁcant exploration and development projects in China, as well as globally.
Minmetals is an influential company in the Chinese domestic mining industry, leveraging its technical, production and professional expertise in the resource development sector. A significant achievement was the exploration and development of the Nihe Iron Mine in Anhui Province which progressed from an exploration project into a large-scale operation in less than two years, leading the Chinese mining industry to coin the term “Nihe speed”.
The Minmetals-Century Relationship
Century’s strategic partnership with Minmetals was formalized through a Framework agreement entered into on February 21, 2011. The agreement sets out the strategic relationship between the two companies, including Minmetal’s equity investment in Century of approximately 5%.
Additionally, Minmetals committed to a 10% production off-take from Duncan Lake Project.
More on Minmetals-Century see 2015 Annual Information Form