CSPT Group Meeting Consensus

The CSPT Group convened its first quarter general manager's office meeting in Shanghai on March 28, 2024. After discussion, the meeting reached the following five consensuses:

1. Given the significant deviation of spot TC/RC for copper concentrates from the market fundamentals, in order to take effective measures to promote the return of spot TC/RC to a reasonable level, the meeting decided not to set a reference figure for spot TC/RC for the second quarter of 2024.

2. Establish a supplier blacklist mechanism, advocating that CSPT group companies do not cooperate with blacklisted enterprises.

3. Advocate for CSPT group companies to jointly reduce production by 5%-10% and promote implementation.

4. Expand the size of the CSPT group, intending to invite large-scale enterprises outside the group to join.

5. Prepare for a thematic meeting on inspection work, inviting professional inspectors from various enterprises to share inspection results and promote the fairness and impartiality of inspection work.