The Gansu-based Jinchuan Group Co Ltd, one of the Fortune Global 500 companies, recently launched its subsidiary Shanghai Jinjuchuan Metal Resources Co Ltd in the Lin-gang Special Area – located in East China's Shanghai city – which is expected to play an influential role in the area's economic development.

A bird's-eye view of the main operations of Jinchuan Group, headquartered in Gansu province. [Photo/WeChat ID: shlgguanweihui]

Jinchuan Group, founded in 1959, is a large mining company controlled by the provincial government of Northwest China's Gansu province, specializing in nonferrous metals production. It ranked 336th among Fortune Global 500 companies in 2021.

The group runs China's biggest production plant for nickel and cobalt – a world leader – and also operates a platinum group metals refining center. As such, it has a particularly strong influence in the industry and an enviable reputation in east and southeast China.

The core business of the subsidiary, Shanghai Jinjuchuan Metal Resources Co Ltd, includes the trade of nonferrous metals, precious metals, the chemicals industry, new energy and other commodities.

The enterprise will rely on the advantages of the Lin-gang Special Area in terms of support facilities and its innovative regulations in international trade. This is expected to give it a boost in the field of exploiting nonferrous metal minerals resources and in its bid to provide services to the real economy and high-end manufacturing industries.

The enterprise will aim to help Lin-gang improve its capacity in global resource allocation and promote the transformation and upgrading of the metallurgical industry.