Jinchuan Group

JOHANNESBURG, July 5, 2011 - Superior Offer Representing a Substantial Premium to the Value of the Proposed Vale Offer Values Metorex at ZAR 9.1 Billion, or Approximately USD 1,356 Million Cash Offer Backed by South African Registered Bank Guarantee Builds on Jinchuan's Strong Track Record of Investments in Africa Creates a Powerful Combination of Assets, Management and Investment Capital Jinchuan announces it has today provided the Board of Directors of Metorex Limited ("Metorex") with a firm intention to make an all cash offer to acquire the entire issued and to be issued ordinary share capital of Metorex.