On November 6, at the Shanghai National Exhibition and Convention Center,the International Summit Forum on Mineral Resources, hosted by China Mineral Resources Group, was held as scheduled. This is the first summit forum since the expo that focuses on the theme of ensuring the supply of mineral resource security.During the forum, a signing ceremony for strategic cooperation was held between China Mineral Resources Group and the "three giants"—BHP, Rio Tinto, and Vale.

This summit forum is themed on"Viewing the Universe, Insight into Resources, Harmonious Ecology," focusing on discussions about ensuring stable supply of mineral resources, strengthening cooperation between upstream and downstream enterprises, creating a harmonious industry ecology, and promoting sustainable development.Nearly a hundred guest representatives from government departments, leading enterprises in domestic and foreign mineral resource development, trade, shipping, metallurgy, as well as industry associations and think tanks participated in the meeting.

During the forum,China Mineral Resources Group and international mining companies such as Rio Tinto, Vale, and BHP discussedjointly building a long-term stable, harmonious, and efficient industrial chain supply chain, promoting green low-carbon applications of steel metallurgy raw materials and sustainable development of the industry, and strengthening cooperation in mineral resource investment and development to meet the high-quality raw material needs of the steel industry.A broad consensus was reached on strengthening strategic cooperation, and a signing ceremony was held to sign and exchange relevant cooperation documents, marking the beginning of a new chapter in cooperation between China Mineral Resources Group and international mining companies.

It is understood thatRio Tinto and China Mineral Resources Group will focus on cooperation in the iron ore and steel industry chain supply chain, including jointly building a stable development supply chain, promoting industry decarbonization, and strengthening cooperation in mineral resource development.

Rio Tinto signed a contract with China Mineral Resources Group.

BHP and China Mineral Resources Group will work together to create, strengthen, and deepen strategic cooperative relationships, exploring mutually beneficial development opportunities in the field of mineral resources. Both parties also intend to jointly explore decarbonization pathways for steel raw materials and green sustainable development in the iron ore industry.

BHP signed a contract with China Mineral Resources Group.

At the forum, Yao Lin, chairman of China Mineral Resources Group, stated that the world is currently undergoing unprecedented changes in a century, and the changes in development situations and environments provide opportunities as well as challenges for industries and enterprises related to resource development, trade logistics, and processing manufacturing. The continuous healthy development of the Chinese economy will continue to provide an important stable anchor and source of growth for the demand for resource products and the sustainable development of the industry. China Mineral Resources is willing to work with all parties to promote the industry ecology towards a more open, inclusive, equitable, balanced, and win-win direction.

Luo Tiejun, vice president of the China Iron and Steel Association, believes that although China's steel production and iron ore demand are under short-term pressure, in the long run, steel demand will remain stable within a certain range. At the same time, the new tasks for the green low-carbon development of the steel industry also pose new requirements for resource security. "The steel, mining, and other related industries in the industrial chain supply chain should jointly take on the responsibility of maintaining the long-term stability of the industrial chain supply chain and achieving green low-carbon development, and increase innovation and cooperation in technology and business models," he pointed out. He also stated that the Steel Association will actively promote high-quality development of the steel industry from multiple dimensions, jointly promoting the formation of a good market environment for iron ore resources.

Guan Yong, an academician of the Chinese Academy of Engineering, delivered a speech titled "Research on the High-Quality Development Strategy of the National Key Mineral and Material Industry Supply Chain" at the forum, pointing out that China's mineral resources and their industrial scale rank first in the world, with a production value of about 52 trillion yuan in 2020, accounting for more than one-third of China's total industrial output value. However, the key mineral and material industry chain presents a "water drop" development state with "large middle and small ends" (i.e., the production value is concentrated in the smelting and processing industry, while the resource end, new material end, and recycling end account for a relatively small proportion). "We need to focus on the shortcomings in resource supply, technological level, green development, and recycling in the mineral and material industry supply chain, and use 15 years to adhere to independent innovation, build a number of internationally competitive enterprises, achieve self-control of key resources and materials, and fully realize the high-quality development of China's mineral and material industry," he suggested.

Some information is sourced from My Steel Network, Rio Tinto, and BHP's official public accounts.