China launches risk exploration capital market construction
Source: www.chinamining.org.cn Citation: www.chinamining.org.cn Date: Nov.11, 2013
During the period of CHINA MINING 2013, Tianjin International Mining Exchange held Risk Exploration Capital Market Strategic Investors Signing Ceremony and Launching Ceremony of China’s Dominant Mineral Products Spot Trading Platform. At the ceremony, Tianjin Jiyuan Geological Exploration Co. Ltd, Shenzhen Zhongke Yingchuang Investment Development Co. Ltd and Jiangxi Mogenli Industrial Co. Ltd signed Letter of Intent on Risk Exploration Stock and Financing, which marked China had officially launched Risk Exploration Capital Market Construction. Tianjin Jiyuan Company had became China’s first enterprise which is entitled to issue share in risk exploration capital market.
Tianjin Jiyuan Geological Exploration Co. Ltd, which is co-organized by Jiangxi Jiyuan Mining Co. Ltd, Geological Survey Institute, 912 Team, West of Jiangxi Team, Northeast of Jiangxi Team, South of Jiangxi Team and Geochemical Exploration Team and registered as risk exploration stock financing entity in Tianjin Mining Finance Reform Demonstration Base. The signing of Letter of Intent on Risk Exploration Stock and Financing is the substantive measure after Jiangxi Geology and Minerals Exploration Bureau became the first risk exploration financing pilot unit in CHINA MINING 2012, which marked the construction of mining platform of Jiangxi Geology and Minerals Exploration Bureau had moved forward an important step, domestically and internationally.
It is learned that the goal of China’s risk exploration capital market is to build a GEM like TSX. This GEM aims to mining enterprises, especially capital market of risk exportation enterprises. It will provide financing platform for risk exploration enterprises, expand financing channel for domestic mining projects and accelerate socialization of exploration projects investments that conform to mining development rules. At present, with the support of related authorities, Tianjin International Mining Exchange is carrying out the docking between overseas international standard and original geological exploration rules to formulate China’s own rules of capital market construction of risk exploration enterprises. The construction of China risk exploration capital market can realize complete integration between risk exploration enterprise and market, decentralize investment risk, promote the integration of capital and technology as well as improve normalization of market investment and financing.
Two geological exploration companies which belong to China Metallurgical Geology Bureau also signed at that time. Their partners are SDIC Fund Management and Shenzhen Chi Tai respectively.
Directors in Jiangxi Geology and Minerals Exploration Bureau, China Metallurgical Geology Bureau, China Minmetals and Tianjin International Mining Exchange and international mining giants witnessed this historical moment and touched crystal ball which symbolized China’s Dominant Mineral Products Spot Trading platform had successfully launched. (Translated by TLRHVC)
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