On February 28, 2018, Mr. Pan Liang, the chairman of Hairong Group, accompanied by his entourage, met Mr. Xu Xiangchun, the deputy general manager of MCC, Mr. Wei Jiaming, the deputy general manager of The China ENFI Engineering Co., Ltd. and China ENFI Engineering Corporation (“China ENFI”) and the other related personnel in the conference room of MCC headquarter, for discussion about Sri Lanka Mineral Sands Project, and listened to the initial analysis report and advices on the project from the experts of China ENFI.

During the meeting, firstly, two engineers Mr. Zhou and Mr. Cui and the deputy general manager Mr. Wei Jiaming from China ENFI, introduced the attendees on the research of Sri Lanka Mineral Sands Project. According to the analysis report of the initial research by China ENFI, Mr. Xu Xiangchun, the deputy general manager of MCC, believes that Sri Lanka Mineral Sands Project is a very unique and good project. It is initially analyzed that the project has huge Mineral Sands reserves, favorable mining conditions, good mine quality and very high Investment Value. In the meantime, Mr. Xu Xiangchun affirmed the preliminary work well done by Hairong Investments International Pvt Ltd (a subsidiary company of Hairong Gourp in Sri Lanka). He expressed that MCC is very willing to collaborate with Hairong Group on this project and expects collaboration in a wider area in the future.

Mr. Pan Liang also expressed his affirmation to the initial research well done by China ENFI. He said Hairong Group has been devoting itself to investing in the fields of infrastructure, energy, tourism, real estate and mineral resources worldwide. Sri Lanka is the key point of Hairong’s investment in South Asia. Hairong Group has established good cooperative relations with high-level authorities of Sri Lankan government and its various departments. Sri Lanka Mineral Sands Project has been valued and supported by the main leaders of Sri Lanka. The collaboration conditions are considerably mature. Hairong Group is very willing to collaborate with the Chinese mining leading enterprise – MCC to jointly invest and develop Sri Lanka Mineral Sands Project. In the meantime, Mr. Pan Liang also expressed that Hairong Group is very willing to collaborate with MCC in more fields to jointly develop overseas projects.

To this end, both parties expressed their satisfaction with this conference. Mr. Xu Xiangchun expects to sign a MOU with Hairong Group as soon as possible so as to jointly facilitate the progress of the project. MCC will make every effort to ensure the project to finalize at the earliest.