On 17 November 2017, the 27th interim meeting of the fourth board of directors of China Molybdenum Co., Ltd. reviewed and approved the Resolution in relation to the Proposed Formation of a Natural Resources Investment Fund by a wholly owned subsidiary of the company with New China Capital Legend Limited, and agreed with the participation by CMOC Limited or its designated wholly owned subsidiary as a limited partner into the formation of the NCCL Natural Resources Investment Fund with a total amount of USD 1 billion. The capital contribution of CMOC Limited or its designated subsidiary will not exceed 45% of the total amount of the Fund. On 17 November 2017, CMOC Limited entered into the NCCL Natural Resources Investment Fund Strategic Cooperative Memorandum of Understanding with New China Capital Legend Limited (NCCL).