1. 1 JIANGXI COPPER CO. LTD

2. 2 During the period of copper price downward-going, Jiangxi Copper was tempered and grown up. LME Copper Price Trend since 1997 Development Review

3. 3 1H2002 Several Measures have been taken to resist downward copper price %

4. 4 Development Review 67,300t 95,000t Investment on mines – Mining capacity increased Investment on smelter – Smelting capacity increased Investment on resource – Wushan acquisition and Fujawu development Jointly investing RMB150,000,000 on building a 150,000 t/y copper rods project. 127,000t 220,000t 300,000t 4,890,000t 8,500,00t 19972002 199720022003 19992002

5. 5 Successful butt-joint with existing equipment for Guixi Smelter’s Phase Three Expansion Project; Finishing the smelter’s twice-every-three-year overhauling; 60 days smelting suspension and 20 days refining suspension; Output close to that of the same period of last year. Interim Results

6. 6 Output compared with planning Output compared with last year Copper 106,000t, up by 2.4%Copper in Conc. 72,000t, up by 8.5% Gold 3215kg, up by 6.7%Gold in Conc. 2,594kg, down by 4% Silver 55.5t, up by 9%Silver in Conc. 24t, up by 41% Copper Sales (inc. tolling) 107,000t, up by 长 2.5% Pyrite sales increased by 55%

7. 7 Interim Results

8. 8 Copper price RMB 15420/T, down by 9.7% as compared with the same period of last year; Guixi Smelter’s expansion and overhauling; Flash furnace 2-month suspension. Turnover of RMB1,560,000,000, down by 16.1% as compared with the same period of last year. Net profit of RMB72,780,000, down by 44.7% as compared with the same period of last year.

9. 9 Interim Results Net profit in this period is RMB7,300, decreased by RMB5,800 compared with the same period of the previous year, which was mainly due to lower copper price: $1725/t COPPER PRICE COMPARISON $1604/T RMB15522/T RMB15420/T RMB17190/T RMB15522/T LMESHFEJCL 1H20011H2002

10. 10 Prospects for the 2nd half of the year Uncertain world economy will impact on copper price; The Company will actively face this challenge: To enhance efficiency, reduce costs and expenses, fulfill this year’s operation plans; To make great efforts to the construction of Guixi Smelter’s Phase Three Expansion and get ready to organize production of 300,000 t/y next year; To further enhance sales of gold and silver by-products which have higher profit margin;

11. 11 To improve marketing, utilize hedging instruments to maximize benefits; To strengthen the procurement, inventories and financial management information system, reduce costs; To expand bill financing and reduce financial costs; adjust the ratio of short-term and long-term loans and improve current ratio; To further study the development strategy – enhance added value of products and the overall quality of the Company. Prospects for the 2nd half of the year

12. 12 China’s economy will continue to speed up; Investors’ confidence will recover in world capital markets, spurring global economy; Copper price is now on the historic bottom and will bottom out from technical point of view; The Company will show its superiorities as the copper price going up. Prospects for the 2nd half of the year

13. 13 THANK YOU VERY MUCH