Cedar Holdings Attends Conference on 'Mining for the Common Good' in Italy, Exploring Path for Belt and Road Cooperation

BEIJING, May 6, 2019 /PRNewswire/ -- On May 3, the Conference on 'Mining for the Common Good' organized by the Holy See was held in the Vatican to discuss the sustainable development and public interest issues in the global mining industry. Pope Francis held talks with leaders of more than 40 global mining giants and delivered a speech. At the invitation of the organizer, Cedar Holdings from China participated in the conference. It is the first time that a Chinese company has showed up at the conference. King Cheung, Chairman of the Board of Directors of Cedar Holdings Group, attended the conference and delivered a speech at the welcome dinner.

In his speech, Pope Francis pointed out that sustainable development of mining industry should become an industry norm. All stakeholders should further promote consensus, protect and respect rights and interests of the local communities through various means, and pay close attention to the safety and wellbeing of the people involved in mining operations, while encouraging the development of a circular economy and protecting the resources of the present and future generations. Environmental protection should not yield concessions for economic benefits. "Our efforts and struggles to safeguard our common home are truly an ecumenical journey, challenging us to think and act as members of one common home. We need to act together to heal and rebuild our common home. I hope that the conference with mining industry leaders gathering will promote actual progress," said Pope Francis.

Pope Francis's speech received positive responses from the participants. As a representative of the Asian mining companies, who was invited to participate in the conference for the first time, Mr. King Cheung said that Cedar Holdings has been upholding the corporate value of "create, share, love" and creating the industrial value as the greatest social responsibility. Over the years, it has provided high-quality and safe bulk commodity industry chain services for more than 8,000 enterprises worldwide, actively promoted the development of mining industry and the overall efficiency of the industrial chain. At the same time, it has persisted in public welfare undertakings for a long time. At present, it has helped the impoverished mountainous areas of southwest China to cut poverty and rejuvenated rural community, through educational support, donation, and industrial projects. It has also been engaged in cultural heritage preservation and community care among other campaigns in places where the industrial projects are located, and worked with partners and employees to build a "community of love" for a sustainable green future.

Cedar Holdings Group is an integrated industrial group in China, with business ranging from bulk commodities, new chemical materials, cultural tourism and smart city services, and an independent charity unit, as well as two A-share listed companies. After 22 years of development, its annual revenue has topped USD 32.7 billion. In 2018, Cedar Holdings ranked 361st on the Fortune Global 500 list.

Commodities are the core business of Cedar Holdings. At present, Cedar Holdings has been a leading enterprise in China's commodity industry chain. It has boasted rich mineral resources such as gold, copper, iron and coal in the world. It has established branches in more than 10 countries including Italy, Switzerland, the UK, Germany, Australia and Singapore, with its business nodes spreading throughout Asia, Europe and Africa along the "Belt and Road".

Mr. King Cheung said that in the future, Cedar Holdings will accelerate its global presence, and comprehensively strengthen its scale and channel advantages, resource development and industrial chain integrated service capacity in the international commodity market. On the one hand, it will solve the raw material demand of China's manufacturing industry. On the other hand, it will strive to improve the livelihood and employment prospect of the residents living in the mineral-producing areas. "Cedar Holdings looks forward to cooperating with relevant parties around the world to contribute to global public welfare and to contribute love and strength to the beauty and light of the world."

Cardinal Peter Turkson and important people of the Holy See, as well as leaders of more than 40 mining companies in the world, including Andrew Forrest, Chairman of Australia's Fortescue Metals Group (FMG), Mark Cutifani, CEO of Anglo American, and Tom Butler, CEO of the International Council on Mining and Metals (ICMM), attended the conference.