Huayou Cobalt Selected as the "Belt and Road" Initiative Case
On October 18th, President Xi Jinping graced the opening ceremony of the third Belt and Road Forum for International Cooperation at the Great Hall of the People, and delivered a keynote address that encapsulated a decade of achievements, distilled successful practices, and unveiled eight key initiatives through which China pledges support for the high-quality advancement of the Belt and Road Initiative. He underscored China's commitment to deepening collaborative partnerships and propelling the Belt and Road Initiative into an exciting new phase of high-quality development. This effort stands as an unswerving endeavor to contribute relentlessly to the modernization of nations worldwide.
Concurrently, from October 17th to 18th, the third Belt and Road Forum for International Cooperation was held in Beijing, shining a spotlight on Huayou Cobalt as an exemplary case study in the Belt and Road Initiative. Huayou Cobalt remains poised to seize opportunities and embrace its mission. With determination, it is accelerating the pace of internationalization and elevating its internationalization level. By spearheading the development of the industry, Huayou is actively contributing to the creation of a new development pattern, ultimately advancing the Belt and Road Initiative toward even higher-quality, more advanced stages of development.
Huayou is a proactive participant in China's Belt and Road Initiative. The company has consistently pursued a unique path characterized by "transformational, open, innovative, green, and shared development." This steadfast approach mirrors its original vision for two decades. Huayou adheres to an investment philosophy of “Wherever we invest, we must contribute to the local economy and society.” It is highly focused on community engagement, the establishment of a responsible supply chain system, and collaborative talent development. The company's commitment to sustainable investment is evident. As of the end of 2022, Huayou has undertaken a total of 26 overseas investment projects, with a cumulative registered investment exceeding 8 billion USD. This includes six investment projects in African countries along the Belt and Road Initiative, with a total investment of over 2.5 billion USD, and fifteen investment projects in Asian countries along the Belt and Road Initiative, primarily concentrated in Indonesia, where the investment exceeds nearly 5 billion USD.
The promotion of high-quality collaboration within the Belt and Road Initiative is a tangible demonstration of China's efforts to construct a global community with shared future. It also provides unwavering momentum for Huayou as it sails ahead, steering towards the blue horizon. The company embarked on its journey in Africa's Democratic Republic of the Congo in 2003, initiating the development of cobalt and copper resources. From 2006 onwards, Huayou invested in multiple mining and metallurgical projects, thereby pioneering an integrated model for cobalt and copper mining and metallurgy, which played a pivotal role in ensuring a consistent supply of raw materials, crucial to the high-quality development of the company's domestic new materials manufacturing sector. In 2018, in response to the national Belt and Road Initiative, Huayou ventured into Indonesia to develop nickel and cobalt resources, forming partnerships with prominent companies both domestic and international, involved in the lithium battery industry's value chain. This collaboration resulted in the establishment of a mutually beneficial ecological industry. Presently, a numbel of projects are underway. Notably, the Huayue Hydrometallurgy Project, with an annual output of 60,000 tons of nickel (metal content) crude hydroxide nickel cobalt, and the Huake Pyrometallurgical Project, producing 45,000 tons of nickel (metal content) nickel matte annually, has been put into operations.
While expeditiously advancing our projects to catalyze local industrial growth, the company is earnestly fulfilling its corporate mission by executing a strategy of local talent development, engaging in local infrastructure development, and holistically establishing an ESG framework to enrich local communities and livelihoods. Taking the Indonesia Huayue project as a case in point, Indonesia Huayue and its various projects are actively implementing and promoting a strategy of nurturing local talent. This endeavor has cumulatively created over 10,000 employment opportunities and significantly enhanced the skills of the local workforce, resulting in the localization of over 80% of our human resources. In concert with the dedicated efforts of both Chinese and Indonesian employees, Huayou's lithium battery enterprise in Indonesia is thriving. Within the ambit of the Belt and Road Initiative, a new anthem of unity and collaboration between China and Indonesia is resounding with passion.
As we commemorate the 10th anniversary of the Belt and Road Initiative and the 10th anniversary of the comprehensive strategic partnership between China and Indonesia, this pivotal year also marks the fifth anniversary of Huayou's pursuit of high-quality development in Indonesia.Bearing in mind the heartfelt wishes of leaders from both China and Indonesia, we are resolutely executing our "going global" strategy, staying true to our founding mission, and marching forward in unison. Utilizing "lithium" as a conduit, we are deepening international cooperation within the Belt and Road Initiative, ushering in a new era of higher quality and elevated standards in Belt and Road co-development. Through tangible actions, we are translating the concept of building a community with a shared future for humanity into reality. Huayou is making a significant contribution to the advancement of the local economy and society in Indonesia, collectively striving to forge a brighter future for all of humanity.
Over the past decade since the inception of the Belt and Road Initiative, the community of publicly-listed companies has energetically answered the national call and undertaken numerous landmark projects, rendering vital support to the high-quality realization of the Belt and Road Initiative. This year, building upon three consecutive years of soliciting and publishing Belt and Road Initiative case studies, the China Association for Public Companies, in collaboration with various stakeholders, has conducted comprehensive evaluations to identify the top 100 exemplary and representative practices. These practices prominently underscore outstanding achievements and enthusiastic responses to the national development initiatives, resulting in the compilation of the China Listed Companies' Top 100 Best Practices in Co-Building the Belt and Road Initiative Over the Past Decade.