OREANDA-NEWS. July 16, 2013. MCC Group signed a strategic cooperation agreement with China National Administration of Coal Geology (CNACG), marking a new start point for both parties’ mutual collaboration on a mutual benefit basis. According to this agreement, both parties will strive for common sharing of resources and complement each other's advantages, with a target to enhance and consolidate their leading positions in their respective business fields.

Meng Jianmin, Vice Director-General of State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, participated the signing ceremony and delivered an important speech. The other attendees included: Director-General Hu Shanting, Vice Director-General Hou Shenjian, Director-General Sun Shenglin, heads of relevant subsidiaries and departments of CNACG; Jing Tianliang, Guo Wenqing and Zhang Zhaoxiang of MCC Group; heads of relevant subsidiaries and departments of MCC Group, including MCC Real Estate Co., Ltd. (MCC RE), MCC Hi-Tech Engineering Co., Ltd. (MCC Hi-Tech) and Shanghai Baoye Construction Group (SBC-MCC Group).

Hu Shanting pointed out that, as a central enterprise under administration by SASAC of the State Council, CNACG was mainly engaged in geological prospecting business. Thanks to the development during the past decades, CNACG has established its unique features and advantages in terms of mining resources prospecting and exploitation, hydrogeology survey, disaster geological survey, airborne remote sensing and geographic information, engineering geology, equipment processing and manufacturing. He emphasized that, CNACG conducted fruitful cooperation with MCC Group and the relevant subsidiaries in recent years.

Through such collaboration, both parties found quite many opportunities for complementation, mutual benefit and common development. Hu expected that, both parties could: (i) further deepen cooperation in the fields of mining resources exploitation, Geo-service, engineering construction, land development, technical communication and transnational operation; (ii) promote common sharing of resources and complementation of each other's advantages; and (iii) achieve the target of mutual benefit and common development on a win-win basis.

Guo Wenqing indicated at the signing ceremony that, as the largest coal exploitation enterprise in China, CNACG had offered essential resources guarantee for the growth of Chinese industries. As the worldwide largest contractor for metallurgical engineering and the service provider for upgrading and transformation of metallurgical engineering technologies, MCC Group has established an integrated industrial chain of both ferrous and non-ferrous metals works.

In addition, MCC Group is also recognized as one of the key resource enterprises, the largest domestic manufacturer of metallurgical technical equipment, as well as one of the 16 central enterprises approved by SASAC for taking real estate development as the core business. Both parties enjoy many similarities and common points in terms of both development concept and business type. On this ground, both parties could carry out wide and in-depth collaboration in the fields of resources exploitation, mine exploration, engineering construction and real estate development, with a target to realize common sharing of resources and complementation of each other's advantages.

According to Guo, the signing of the strategic agreement symbolized that both parties have figured out a brand new start point of mutual-benefit cooperation basing upon their long-lasting friendship. Guo said, MCC Group would stick to the requirements of the agreement, undertake the relevant tasks as per the schedule and lay a consolidate foundation for the collaboration.
Meng Jianmin stated that, SASAC of the State Council would continue to intensify support, actively create favorable conditions, promote the in-depth effective cooperation among central enterprises, and assist in establishing themselves into the worldwide leading enterprises with outstanding international competitiveness. He expected that, both parties could take a broad and long-term strategic view, jointly explore the domestic and foreign markets, strive for common sharing of resources by complementing each other's advantages, and achieve common prosperity on a win-win basis.