It was learned from Chenzhou Mining Industry Union that a framework agreement on strategic cooperation of the construction of service platform for south Hunan mining industry’s merging and reorganization was signed between Chenzhou Mining Industry Union and Qianhai Hairun International Buyout Funds Management Co., Ltd. According to the agreement, the two parties will try best to establish 6 buyout funds for 6 mining industries’ merging and reorganization to play the decisive effect of capital market on the transformation and upgrading of Chenzhou city’s mining industry.

Chenzhou city was famous as “non-ferrous metals museum of China”, “silver city of China”, “mineral crystal city of China”, and etc. It was the key region for national and Hunan provincial resource development and promotion of new industrialization. Over 1400 mining enterprises on exploration, dressing, smelting and processing, mining logistics, and etc. are available in Chenzhou city. But concerned for Chenzhou city’s mining industry development condition, its mineral resource development was still on the transformation stage which was with extensive resource development, poorer industry integration capacity, especially with poor development of mining capital market, weak capital chain of small and medium-sized mining enterprises, and etc.

The key cooperation points for this framework agreement was to establish special funds of mining merging and reorganization from the practical conditions of mining economy transformation and upgrading and from specific requirement and sufficient conditions. Its striving directions included mineral exploration risk funds, coal mine buyout funds, non-ferrous metals buyout funds, precious metals buyout funds, brand-name and high-quality stones buyout funds, mine recycling industry buyout funds and some other industries buyout funds. It was purposely to promote mining industry emerging and integration of mine resources to turn to the operation model of capital market. A joint service center for mining industry emerging and reorganization will be established by Chenzhou Mining Industry Union to provide comprehensive service for establishment of mining buyout funds.

It was introduced by the principal of Chenzhou Mining Industry Union that once the 6 mining emerging and reorganization special funds were established, it would be greatly helpful for upgrading the efficiency of mine resources allocation, adjusting and optimizing the industrial structure, guiding the transformation and upgrading of mining industry and promoting the development of Chenzhou mining industry’s capital market.