On 19 June 2008 Minmetals Development Co. Ltd (600058) made an announcement regarding the establishment of a joint venture with Muscat Overseas Group of Oman and one of its subsidiaries. The joint venture will focus on manganese exploration in Oman.

Minmetals Development said the total registered capital of the JV will be EUR 2.12 mln (USD 5.5 mln), of which it would invest USD 2.475 mln, equivalent to a 45% stake. The investment will be financed by the company itself and the project will not materially alter the company's financial condition or its operations.

Source: China Securities Journal

Date: 19 Jun 2008

CN01/MZ/BT/MM