Jiangxi Copper : CHANGE OF EXECUTIVE DIRECTOR AND DEPUTY GENERAL MANAGER AND CESSATION TO ACT AS CHIEF ENGINEER

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CHANGE OF EXECUTIVE DIRECTOR

AND

DEPUTY GENERAL MANAGER

AND

CESSATION TO ACT AS CHIEF ENGINEER

CESSATION TO ACT AS EXECUTIVE DIRECTOR, DEPUTY GENERAL MANAGER AND CHIEF ENGINEER

The board (the "Board") of directors ("Directors") of Jiangxi Copper Company Limited (the "Company", together with its subsidiaries, the "Group") announces that, at the Board meeting held on 13 November 2019, the Board resolved and approved,

1. the cessation of Mr. Dong Jiahui ("Mr. Dong") to act as an executive Director, with effect from the date of the extraordinary general meeting to be convened on which, among others, the proposed appointment of Mr. Liu Fangyun ("Mr. Liu") as an executive Director is approved (the "EGM"); (ii) the cessation of Mr. Huang Mingjin ("Mr. Huang") to act as a deputy general manager of the Company with effect from 13 November 2019; and (iii) the cessation of Mr. Liu Jianghao to act as the chief engineer of the Company with effect from 13 November 2019, due to adjustment of their work arrangements.

Mr. Dong, Mr. Huang and Mr. Liu Jianghao have confirmed that they have no disagreement with the Board and that there is no other matter in relation to their cessation to act as an executive Director, a deputy general manager of the Company and the chief engineer of the Company, respectively, that needs to be brought to the attention of the shareholders of the Company (the "Shareholders"). The Board would like to take this opportunity to express its appreciation and gratitude to Mr. Dong, Mr. Huang and Mr. Liu Jianghao for their past valuable contributions and services made to the Company during their terms of service.

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APPOINTMENT OF EXECUTIVE DIRECTOR AND DEPUTY GENERAL MANAGER

The Board also announces that Mr. Liu has been recommended by Jiangxi Copper Corporation Limited, a substantial Shareholder, and nominated by the nomination committee of the Company as a candidate for appointment as an executive Director, subject to the approval by the Shareholders at the EGM. He was also appointed as a deputy general manager of the Company with effect from 13 November 2019.

The biographical details of Mr. Liu Fangyun are set out below:

Mr. Liu Fangyun, aged 53, graduated from Kunming Institute of Technology ( 昆 明 工 學 院) (now known as Kunming University of Science and Technology) majoring in mining machinery and is a professor-level senior engineer. He has been serving as a member of the Party committee of the Company since August 2019. He served as the head of the Chengmenshan Copper Mine* ( 城 門 山 銅 礦), the head of the Dexing Copper Mine* ( 德 興 銅 礦) and president of the trade union of the Company and

secretary of the Party committee, chairperson, and general manager of Jiangxi Province Minbao Investment Company Limited* (江西省民爆投資有限公司). He also acted as

an executive Director from June 2013 to July 2016.

As at the date of this announcement, save as disclosed above, Mr. Liu has not held any other position with the Company or other members of the Group, has not held any directorships in other listed companies in the last three years, and has no other major appointments or professional qualifications. Mr. Liu does not have any relationships with any Directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company. He does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Subject to the approval of the Shareholders at the EGM, the Company will enter into a service contract or a letter of appointment with Mr. Liu. The initial length of service will be from the date of the EGM up to the expiration of the term of office of the current session of the Board. The Company has yet to fix the remuneration of Mr. Liu and it will seek approval from the Shareholders at the EGM for the authorisation that any one Director to enter into a service contract or letter of appointment with him. The Board will consider the duties of Mr. Liu in the Company with reference to the salary of the other executive Directors in determining the remunerations of Mr. Liu.

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The Board is not aware that there are any other matters relating to Mr. Liu that need to be brought to the attention of the Shareholders in respect of his appointment and there is no other information relating to Mr. Liu which is required to be disclosed pursuant to any of the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

A circular containing, among other things, details of the proposed appointment of Mr. Liu as an executive Director together with a notice convening the EGM, will be despatched to the Shareholders in due course.

By Order of the Board

JIANGXI COPPER COMPANY LIMITED

Long Ziping

Chairman

Nanchang, Jiangxi, the People's Republic of China, 13 November 2019

As at the date of this announcement, the executive Directors are Mr. Long Ziping, Mr. Zheng Gaoqing, Mr. Wang Bo, Mr. Gao Jianmin, Mr. Liang Qing, Mr. Dong Jiahui and Mr. Yu Tong; and the independent non-executive Directors are Mr. Tu Shutian, Mr. Liu Erh Fei, Mr. Liu Xike and Mr. Zhu Xingwen.

• For identification purpose only.

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