In November 2016, Zhongrong Xinda Group Co., Ltd. (“Zhongrong Xinda”) completed the restructuring of Peru Banggou gold-copper-cobalt-iron poly-metallic mine. The project was listed among the priority projects of Peru when President Xi visited Peru in November 2016.

Founded in 2003, Zhongrong Xinda is an international large-scale conglomerate with energy chemical industry, financial investment, logistics clean energy and mineral resources development as its main works. The Group is headquartered in Qingdao, China. By the end of 2016, the total assets of the Group reach 140.2 billion yuan, the net assets reach 87.5 billion yuan, operating revenues reach 65.1 billion yuan and net profits reach 3 billion yuan. The long-term credit rating of the group is rated AAA. Staying among the top 10 national logistics enterprises, its independent coking enterprise capacity is among the highest nationwide, and its non-ferrous metal mineral reserve lists top position in the world.

The six mining rights of Peru Banggou Poly-metallic Mine have been basically proven. In terms of reserve, it is a super-large skam deposit in the world, as well as the single largest skam-type gold-copper-iron poly-metallic mine.

Jingtian & Gongcheng is the legal counsel of Zhongrong Xinda in this deal. It provides comprehensive legal services and participates in the planning and drafting of framework agreement between the client and Peru’s President and relevant ministers.