Inauguration Ceremony of Tianjin International Mining Finance Reform Pilot Area was held
On Nov. 5th, China Ministry of Land Resources and Tianjin Municipal People’s Government jointly held the Inauguration Ceremony of Tianjin International Mining Finance Reform Pilot Area in Tianjin Meijiang Convention and Exhibition center. Xu Shaoshi, Minister of Ministry of Land and Resources, and Huang Xinguo, Mayor of Tianjin veiled the plate for the area together. Wang Min, Vice Minister of Minister of Land and Resources beat the gong for 158 projects of mineral right transfer in Tianjin Mining Exchange. Cui Jindu, Standing Vice Mayor of Tianjin, Xiong Jianping, Deputy Mayor of Tianjin, Wang Hongjiang, Secretary-General of Tianjin Government, etc. attended the Inauguration Ceremony. Zhong Ziran, Chief Engineer of Ministry of Land and Resources chaired the ceremony.
(photo: Yu Hongqi)
Scene of Inauguration Ceremony
The Inaugurating of Tianjin International Mining Finance Reform Pilot Area marks activities which promote mining finance system reform, establish mineral risk exploration capital market, explore and establish new mining system mechanism featuring in trinity of resources, assets and capital through this platform of Tianjin Mining Exchange, set up the open and effectively supervised modern international mining finance service system and market construction which accord with market and geological rules are fully activated.
China Metallurgical and Geology Bureau, Henan Provincial Bureau of Geo-exploration and Mineral Development, East China Mineral Exploration and Development Bureau, Jiangxi Provincial Bureau of Geo-exploration and Mineral Development, Northwest China Mineral Exploration and Development Bureau became the first batch of finance pilot unit of Tianjin Mining Exchange and signed declaration of Commitment.
Kunlun Trust Co., Ltd., CCB Trust C0., Ltd., Tianjin Trust Co., Ltd., Northern International Group，New China Trust Co., Ltd. and Sino-Australia International Trust became the first batch of pilot units of mining right trust financing of Tianjin Mining Exchange.
Bank of China signed the strategic cooperation agreement with Tianjin Mining Exchange for providing USD10 billion integrated credit line for members of Tianjin Mining Exchange so as to support Chinese mining enterprises going-out.
Mongolia Development Association, Mongolia Exporters Association, Liaoning Provincial Bureau of Geo-exploration and Mineral Development, Hunan Nonferrous Metals Geology Exploration Bureau, Jilin Nonferrous Metals Geology Exploration Bureau, Jilin Bureau of Geology and Minerals Exploration and Development and Invar Gas Co, Ltd of Australia separately signed relevant agreement with Tianjin Mining Exchange.
Besides, 158 mineral projects from 48 enterprises of 6 countries listed successfully on the scene through the E-platform of Tianjin Mining Exchange. 19 of them are international projects from Mongolia, Australia, Sierra Leone, Namibia, Zimbabwe, etc. the rest 139 are domestic projects from China Metallurgical Geology Bureau, China Nuclear Geology, Liaoning Provincial Bureau of Geo-exploration and Mineral Development, Henan Provincial Bureau of Geo-exploration and Mineral Development, Inner Mongolia Autonomous Bureau of Geo-exploration and Mineral Development, etc. The mining right projects involved exploitation right, exploration right and the transfer, cooperation, financing of mining company share. The minerals include copper, iron, gold, silver, plumbum, tungsten, stannum, polymetallic, fluorite, etc.
According to the “memorandum of Jointly build Tianjin International Mining Finance Reform Pilot Area” signed by Ministry of Land and Resources and Tianjin Municipal People’s Government, Ministry of Land Resources and Tianjin Municipal People’s Government will build together Tianjin International Mining Finance Reform Pilot Area, establish mineral risk exploration capital market, explore and establish new mining trinity mechanism of resources, assets and capital three in one, set up the modern international mining service system which accords with market and geological rules and supply finance service for mining enterprises.
The memorandum stresses the mutual responsibility between Ministry of Land and Resources and Tianjin Municipal People’s Government. Ministry of Land and Resources is generally responsible for researching and promoting management and reform etc. relevant affairs of mineral resources and supporting the pilot area in management policy and relevant affairs of mineral resources. Tianjin Municipal People’s Government is mainly responsible for organizing, leading and supporting pilot area construction and supervising finance and Financing Activities. Meanwhile, the memo also makes clear China Mining Association is responsible for organization and coordination of pilot area construction, directs the pilot affairs of stock changes and mining right finance custody in members with Tianjin Mining Exchange and relevant development makes the rules and regulations of capital market of mineral exploration risk, promotes the internationalization of the new rules, organizes relevant members to do some affairs on mining both at home and abroad and relevant information collection, organization, processing and analysis, etc. Tianjin Mining Exchange carries out the pilot affairs of mining enterprise stock financing, fund financing, trust financing, bond financing, etc.
The heads from Ministry of Land and Resources, China Mining Association, Tianjin municipal people’s Government Financial Affairs Office, Tianjin Municipal Bureau of Land Resources and Housing Administration, Foreign Affairs Office of Tianjin Municipal People’s Government and Tianjin Mining Exchange attended the inauguration ceremony too. (Yu Hongqi)
（translated by TLRHVC）
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