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April 15, 2008
Toronto announced as Canadian headquarters for Jinchuan Group Ltd.
  
Beijing, China - The Jinchuan Group Ltd. (JNMC) announced today that they have chosen Toronto as the site of the company’s Canadian subsidiary offices set to open in spring 2008.

Toronto Mayor David Miller, in Beijing on a business mission joined Shi Peirong, Vice President and CFO of JNMC and Xu Jun, CEO of Canadian Jinchuan Resources for the announcement.

“The decision made by the Jinchuan Group is further evidence of Toronto’s pivotal role as the major investment gateway to North America,” said Mayor Miller. “We welcome the Jinchuan Group to our dynamic, skilled business community.”

Headquartered in Jinchang, Gansu Province, JNMC is a large metallurgical enterprise engaged in mining and mineral processing and is the largest producer of nickel, cobalt and precious metals in China. JNMC produces 88 per cent of China’s nickel output and 90 per cent of its precious metals.

Since May 2007, City of Toronto Economic Development staff have worked extensively with executives from Jinchuan Group Ltd. to attract the organization to the city.

Major accounting firms, a large contingent of engineering and geological consulting firms, brokerage and investment houses, as well as law firms with specialties in exploration and mining provide critical support for the national mining industry in Toronto. An estimated 600 mining equipment and services companies, more than 12 mining industry associations and organizations, as well as a large number of exploration and mining companies currently operate in Toronto.

Mining companies make up approximately 28 per cent of the listings on the TSX and the TSX-Venture exchanges, and more than 50 per cent of the world’s equity financing for exploration and mining is raised through their auspices. Fifty-eight per cent of the world’s mining companies are listed on the Toronto exchanges.

The business mission to three major cities - Chongqing, Beijing and Shanghai, China - will help Toronto meet significant goals of the recently released “Agenda for Prosperity” and support Toronto’s emergence as a leading global city of the 21st century through economic growth, internationalization, creativity and inclusion.

Toronto is Canada’s largest city and sixth largest government, and home to a diverse population of about 2.6 million people. It is the economic engine of Canada and one of the greenest and most creative cities in North America. In the past three years, Toronto has won more than 70 awards for quality, innovation and efficiency in delivering public services. Toronto’s government is dedicated to prosperity, opportunity and liveability for all its residents.

Media contact:
Stuart Green, Deputy Director of Communications, Office of the Mayor, 416-338-7119, stugreen@toronto.ca


 

 

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