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Statement by Consul-General Dong Zhihua at the Signing Ceremony of the Joint Venture between Zhaojin Mining Industry Co. Ltd and PCF Capital Group

(12 August 2019, the Westin, Perth)

Hon Bill Johnston, Minister for Mines and Petroleum; Energy; Industrial Relations,

Mr. David Sun, President of CCCA Perth Branch,

Mr. LIam Twiggler, Managing Director of PCF Capital Group,

Mr. Weng Zhanbin, Chairman of the Board and Executive Director of Zhaojin Mining Industry Co. Ltd,

Distinguished guests,

Ladies and Gentlemen,

Let me first of all thank Zhaojin Mining Industry Co. Ltd and PCF Capital Group for your kind invitation. It is my great pleasure to attend this signing ceremony for the launch of your joint venture, Golden Gateway Co. Ltd. My warm congratulations to you for this innovative and successful endeavor. And I am confident that with the combination of wisdom and strength from both sides, Golden Gateway Co. Ltd. has a bright and promising future for success.

Zhaojin Mining is China's forth largest Gold producer. PCF Capital Group is a distinguished corporate advisory firm in Western Australia with rich experience and high expertise on M&A, divestment and project financing in the resource sector. This is the first time that a mining company from China is building a joint venture with an advisory firm from Australia, which sets a new model of cooperation with great potential, built on the very solid basis of many years' cooperation in the mining and resource sector between our two countries.

Through this joint venture, Chinese enterprises may explore investment, mergers and acquisitions opportunities in Australian mining and resources projects, and avoid mistakes or misjudgement because of lack of understanding of Australian laws and local conditions. Australian companies will benefit from financial investment that generates new jobs and tax revenue, while exploring business opportunities in China. It will be a win-win cooperation that bring benefits to both sides.

It is my sincere hope that the two sides will follow the principle of equality and mutual respect and abide by the laws and regulations of China and Australia and together write a new success story of mutually beneficial cooperation. Your achievements will enrich our bilateral trade and economic cooperation, and even go beyond that, contribute to the comprehensive strategic relationship between China and Australia.

The world economy is facing downward pressure with the United States slapping huge amount of tariff on Chinese products and goods. In a period of difficulties and uncertainties, it's important that China and Australia build closer and stronger economic ties through our joint efforts. I wish to take this opportunity to express appreciation to the State government of Western Australia and Minister Johnston for taking a very positive and constructive approach in encouraging Chinese investment and cooperation especially in the mining and resource sector.

The Chinese Consulate-General will spare no effort in facilitating and deepening practical cooperation between China and Western Australia, and we will continue to encourage Chinese companies and enterprises to invest here. Meanwhile we continue to count on the state government to work towards a better and friendly environment for Chinese companies and enterprises to operate here.

Again Congratulation and I wish the Golden Gateway Co. Ltd great success.

Thank you all.

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