some finance terms

财务报告

16 Cash Application 现金应用

After tax operating surplus cash of the JV Company shall be distributed in the following order of priority:

JV公司税后盈余资金将依照以下优先顺序安排利用 16.1.1 to service debt; 债务偿本付息

16.1.2 to sustain capital expenditure; 维持资本支出

16.1.3 to repay Contributions made by Glencore and Nanjing Mining pursuant to the Approved BFS. For this purpose, Contributions shall be deemed to include the cost of capital to make such Contributions; and

依照经核准的基本档案系统，偿还瑞士Glencore公司和南京矿业的贷款。鉴于这一目的，所谓的贷款应该被认为同时包括为了做这些贷款而花费的资金贷款，和 16.1.4 as a dividend to the JV Parties, pro rata to their Participating Interests.

作为贷款方的一个红利，按照贷款利润的比率。 17 Transfers of Participating Interests 参股权益的转让

17.1 General prohibition against transfers 有违转让的通常的禁令

No JV Party can do, or agree to do, any of the following without the prior written consent of the other JV Parties unless it is permitted by this Clause 17:

没有预先经过其它贷款方的书面允诺，除非得到第17条的允许，任何贷款方都不能，或者同意以下行为：

17.1.1 pledge, mortgage, charge or otherwise Encumber any of its Participating Interest or any interest in any of its Participating Interest;

质押， 按揭，抵押 或者以别的方式阻碍参股权益或者阻碍参股权益中的任何利益

17.1.2 sell, transfer or otherwise dispose of, or grant any option over (each and any of the above hereinafter being referred to in this Clause 17 as a “Transfer”), any of its Participating Interest or any interest in its Participating Interest;

出售，转让，处理，或者授权（第17条所指的一个或者任何转让），任何参股权益或者参股权益中的任何利益。

17.1.3 enter into any agreement in respect of the votes attached to any of its Participating Interest; or

关于对于任何参股权益所做投票的协议，或者

17.1.4 agree, whether or not subject to any condition precedent or subsequent, to do any of the foregoing.

服从或者不服从前述的先例或者后发的任何情形。 17.2 Transfers to Affiliates 转让使加入

17.2.1 Any JV Party may Transfer all or some of its Participating Interest to an Affiliate on giving prior written notice to the other JV Parties. An Affiliate must be under an obligation to retransfer its Participating Interest to the JV Party or another Affiliate of that JV Party immediately if it ceases to be an Affiliate. Any failure by an Affiliate that ceases to be an Affiliate to so retransfer its Participating Interest shall result in a suspension of all rights attaching to the relevant Participating Interest for the duration of such failure. Rights that accrue or are exercisable during the period of any such suspension shall accrue to or be exercisable by the remaining JV Parties (other than the JV Party that is the former Affiliate of the defaulting party) pro-rata to their Participating Interests.

在预先给予其它贷款方书面通知后，任何合资方可以转让所有或者部分参股权益给他方，使其成为会员。这个新会员如果中止了会员的身份，它有义务必须马上转让他的参股权益给那个合资方或者那个合资方的心会员。任何中止会员身份未能成功转让其参股权益的加入者应该终止所有的在其未能成功转让其参股权益期间的所有相关参股权益。在参股权益未能成功转让的悬而未决期间，所有自然产生的或者可操作的权利，应该由存在的贷款方（除了缺省方之前的那个加入者贷款方）按照他们持股的比率自然拥有或者操作。

17.2.2 Where not all of the Participating Interests held by the original transferring JV Party (but not a subsequent transferor in a series of Transfers) are Transferred:

最初的转让合资方（但不是指在一系列的转让中的后来的让与人）所持的参股权益，并不是所有的都要被转让：

(i) the right to appoint a JV Party Representative in respect of the Participating Interest shall remain with the transferring JV Party and the transferring JV Party shall be deemed to have retained the transferred Participating Interest for the purposes of determining the number of votes it is entitled to exercise and whether it remains entitled to appoint a JV Party Representative;

为了决定选票数量的目的，关于参股权益应该保留给转让方还是受让方而指定一个合资方代表的权利应该被认为是保留了转让的参股权益。这个代表被授权执行和授权是否指定一个合资方代表。

(ii) this Agreement shall apply as if the transferring JV Party and the transferee are one JV Party; 这个协议将同时应用于转让合资方和受让方是一个合资方的情况。

(iii) all the rights of the transferee under this Agreement shall be exercised exclusively by the transferring JV Party;

这个协议下的受让方的所有权利应该完全独立于合资转让方而施行。

(iv) any notice given by the transferring JV Party under the Agreement shall be deemed also to be given by the transferee; and

这个协议下合资转让方所给予的任何通知应该被认为同样是受让方的通知。

(v) any notice required to be given to the transferee shall be given also to the transferring JV Party.

任何必须给受让方的通知也应该被认为是给合资转让方的通知。 17.3 Transfers to Xstrata Group 转让给特别团体

17.3.1 Glencore and its Affiliates may Transfer all or some of Glencore’s Participating Interest to any member of the Xstrata Group on giving prior written notice to the other JV Parties.

Glencore公司和它的小属股民，在预先书面通知其它合资方的情况下，可以转让Glencore公司所有参股权益或者部分参股权益给其它团体的任何成员。

17.3.2 Following a Transfer of all or some of its Participating Interest to the Xstrata Group, the original transferring JV Party shall be released of its liability under this Agreement in respect of the transferred Participating Interest.

以下是一个转让方转让所有或者部分它的参股权益给特别团体，最初的合资转让方关于转让利益，在这个协议下应该放弃它的义务。

17.3.3 Where not all of the Equity Interest held by the original transferring JV Party (but not a subsequent transferor in a series of Transfers) is Transferred: 并不是最初的转让合资方（但不是指一系列转让中后来的让与人）所持的所有股东权益要被转让：

(i) each resulting JV Party may appoint a JV Party Representative in respect of its Participating Interest *provided such Participating Interest entitles it to do so+ and each such JV Party’s Participating Interest shall determine the number of votes it is entitled to exercise; 关于它的参股权益（提供授予它这样做的参股权益），每一个产生的合资方可以指定一个合资方代表，每一个这样的合资方的参股权益会决定被授予行使选票数。

(ii) each resulting JV Party shall have the right to exercise the rights of a JV Party hereunder; 每个产生的合资方应该有权利执行以下一个合资方的权利。

(iii) any notice given by the transferring JV Party under the Agreement shall not be deemed also to be given by the transferee; and

此协议下，合资转让方所给出的任何通知不应该也不认为是受让方给出的；

(iv) any notice required to be given to the transferee need not be given also to the transferring JV Party.

任何必需给受让方的通知不必给合资转让方。 17.4 Transfers to Third Parties 转让给第三方

Except as otherwise provided in this Clause 17, the Participating Interests of any of the JV Parties may be Transferred only in accordance with the provisions of this Clause 17.4:

除了第17条提供的，任何合资方的参股权益只能依照第17.4条来转让。

17.4.1 A JV Party (“Selling JV Party”) wishing to Transfer all but not part only of its Participating Interest (the “Offered Interest”) shall send a written transfer notice to the other JV Parties (“Purchasing JV Parties”) setting out the price (which shall always be a cash amount) and terms (the “Offer Terms”) on which it is willing to offer the Offered Interest to the other JV Parties. Such an offer shall be pro rata inter se to the Purchasing JV Parties’ respective Participating Interests. The Selling JV Party will invite each of the Purchasing JV Parties to state in writing within 45 days from the effective date of the notice whether they or their Affiliates are willing to purchase any of the Offered Interest on the Offer Terms and, if so, the maximum number or amount thereof. If any part of the Offered Interest is not taken up by any of the Purchasing JV Parties or their Affiliates, the Selling JV Party will offer that part of the Offered Interest remaining on the same Offer Terms to the other Purchasing JV Parties who have stated that they or their Affiliates wish to purchase such Offered Interest inviting such Purchasing JV Parties to notify the Selling JV Party within a further 14 days of the proportion of the Offered Interest they or their Affiliates wish to purchase.

一个合资方（合资卖方）希望转交所有的但不是部分的参股权益（授予的利益）应该发出书面转让通知给另一个合资方（合资买方），此通知要出示价格（往往会是一个现金的总额）和条款（授予条款），表示愿意提供授予的利益给另一个合资方。这样的一个授予将按照合资方各自参股权益的比例来购买。合资卖方会邀请合资买方的其中一个在通知生效的45天内陈述他们或他们的小属股民是否愿意购买任何关于授予条款的授予利益。如果愿意，就提供最大的数字或金额。如果授予利益的任何部分没有被合资购买方或者他们的小属股民占有，那么合资卖方将提供在同一授予条款下保留的授予利益给另一个合资购买方，这个合资购买方是已经陈述了他们或他们的小属股民希望购买这个授予的利益（邀请合资买方在以后的14天内按照他们或他们的小属股民希望购买的比例来通知合资卖方）

17.4.2 If the Selling JV Party finds Purchasing JV Parties or their Affiliates willing to purchase all of the Offered Interest pursuant to this Clause, the Selling JV Party will be bound upon acceptance of the Offer Terms to Transfer such Offered Interest to such Purchasing JV Parties or their Affiliates.

如果合资卖方发现合资买方愿意购买根据此条款所提供的所有利益，那么合资卖方注定要接受这个供应条款来转让这样的供应利益给合资买方或者他们的小属股民。

17.4.3 If the Selling JV Party has not found Purchasing JV Parties or their Affiliates to purchase all of the Offered Interest, the Selling JV Party and its Affiliates may, subject to Clauses 17.4.4 and 17.4.5, Transfer all but not part only of the Offered Interest, at any time within six months after the expiry of the last notice given to the Purchasing JV Parties pursuant to Clauses 17.4.1 and 17.4.4, to any third party at a price not being less than that set out in the Offer Terms and otherwise on terms no more favourable to the Offer Terms. If the Selling JV Party does not Transfer its Participating Interest within the six month period referred to above, the provisions of this Clause 17 will again become applicable to the Transfer of its Participating Interest.

如果合资卖方没有发现合资买方或者他们的小属股民来购买所有这些提供的权益，那么合资卖方和他们的小属股民可以依照第17.4.4 条和 17.4.5条，转让所有的而不是部分的提供的权益，依照第17.4.1 条和第 17.4.4条的规定，在给出合资买方最后通知期满后的六个月内的任何时间,以不低于出让条款中的价格的价格转让权益给任何第三方，或者是以其它并不没有更多优惠于出让条款的条款转让。如果合资卖方没有在上述提到的六个月内转让其参股权益，那么第17条的规定又一次适用于其转让参股权益。

17.4.4 If a Selling JV Party intends to Transfer the Offered Interest to a third party pursuant to Clause 17.4.3 (a \Party Sale:

如果一个合资卖方依照17.4.3条（一个第三方）打算转让提供的权益给第三方，那么应该提前并作为一个条件完成第三方的交易。

(i) it shall send a written transfer notice to the Purchasing JV Parties identifying the third party to whom it is proposing to sell and setting out the price and terms of the Third Party Sale, whereupon the Purchasing JV Parties shall have the right to pre-empt the Third Party Sale by acquiring the Offered Interest at the same price and on the same terms (provided that they are willing to acquire the entire Offered Interest) and the provisions of Clause 17.4.1 shall apply mutatis mutandis in respect of the process of determining whether the Purchasing JV Parties have exercised such right, provided that the references in Clause 17.4.1 to “45 days” and “14 days” shall each be replaced with the words “five days”; 它会发出一个书面的转让通知给合资购买方，表明他打算出售给的第三方，并出示和第三方交易的价格和条款，于是合资购买方将有权利先取得和第三方的交易，通过同样的价格和同样的条款（提供的他们愿意获得全部提供的权益）获得提供的权益，同时通过第17.4.1条的规定，关于阻止是否合资购买方已经实施了这样的权利，即第17.4.1提供的45天和14天要被5天代替的这样一个过程，来申请做必要的修整。

(ii) once the process set out in Clause 17.4.4(i) above has been followed, if the Purchasing JV Parties have not exercised their right to acquire the entire Offered Interest, the Selling JV Party shall be entitled to complete the Third Party Sale.

一旦17.4.4(i)条中的过程被实施，如果合资购买方没有实施他们的权利去获得整个提供的权益，那么合资卖方将有资格完成和第三方的交易。

17.4.5 A JV Party shall only be permitted to offer the sale of all (but not part only) of its Participating Interest.

一个合资方只有被允许来提供它参股权益的所有而不是部分交易。

17.4.6 If a Transfer of a Participating Interest occurs pursuant to this Clause 17.4, the transferor and transferee of such Participating Interest will pay all taxes, costs, charges and fees relating to

such Transfer as they fall due under applicable law.

依照17.4条，如果一个参股权益的转让发生了，那么这个转让权益的转让者和受让者要支付所有的税金，成本，费用，以及在适用的法律下期满时这种转让所产生的相关费用。 17.5 Indirect Transfers 间接转让

It is the intention of the parties that the pre-emption right contained in this Clause 17 shall not be avoided by Transferring the shares in a company which directly or indirectly owns a Participating Interest. Accordingly, if at any time any Participating Interest is held by any person or entity (the “Departee”) which ceases or is likely to cease to be a member of the relevant JV Party’s Group (the “Relevant Group”), the JV Parties of the Relevant Group (for themselves and as trustee for the Departee) agree:

在一个直接或者间接拥有参股权益的公司，通过股权的转让，那么第17条所包含的先取得的权利将不可避免，这是双方的目的。因此，如果任何个人或者团体终止或者想要终止相关合资团体（相关团体），相关团体合资方的一个成员的身份，那么要赞同以下条款：

17.5.1 that they and the Departee shall jointly and severally use all reasonable endeavours to Transfer such Participating Interest to another member of the Relevant Group prior to the Departee leaving the Relevant Group; failing which

在离开者离开相关团体前，他们和离开者要共同并各自竭尽全力转让参股权益给另一个相关团体的成员，如果没有做到

17.5.2 that they and the Departee shall be jointly and severally obliged to cause the Participating Interest held by the Departee to be Transferred to a member of the Relevant Group forthwith following the Departee ceasing to be a member of the Relevant Group, with any failure to cause such a Transfer resulting in a suspension of all rights attaching to the relevant Participating Interest for the duration of such failure (with rights that accrue or are exercisable during the period of any such suspension accruing to or being exercisable by the remaining JV Parties (other than the JV Parties that are part of the Relevant Group) pro rata to their Participating Interests), 他们和离开者在离开者终止了相关团体的一个成员身份后，要马上共同并各自被责成使离开者所持有的参股权益要转让给相关团体的一个成员，否则所导致的在相关参股权益中的所有权利（在这一期间自然产生的或可操作的）在转让过程中的悬而未决的，有保留的合资方按照他们参股权益的比例来操作。 provided that:

17.5.3 this Clause 17.5 shall not apply to any Transfer by Glencore and its Affiliates of all but not part only of the Glencore Participating Interest to the Xstrata Group (provided always that Glencore provides the other JV Parties with written notice of any such proposed Transfer); and 第17.5条将不适用于由Glencore公司和它的所有参股者转让参股权益给其他团体（一直都是Glencore公司以书面通知形式提供其他合资方关于意向转让的事情）

17.5.4 this Clause 17.5 shall not apply to any Transfer by any JV Party’s Group of all but not part of its Participating Interest, provided such Participating Interest has been offered to the Purchasing JV Parties (as defined in Clause 17.4.1) in compliance with Clause 17.4 and such Transfer is in compliance with all other requirements of this Clause 17.

第17.5条也不适用于任何合资方转让参股权益（依照17.4条，在17.4.1中有定义的，并且在17条依照所有必须要求的转让）提供给合资购买方的给其他团体（一直都是Glencore公司以书面通知形式提供其他合资方关于意向转让的事情）。 17.6 Miscellaneous 混合性转让

Any JV Party may Transfer all but not part only of its Participating Interest pursuant to this Clause 17 partly by way of a share sale, pursuant to Clauses 17.4.3 or 17.5.4, as applicable, and partly pursuant to the other provisions of this Clause 17 (a “Combination Transaction”), provided that the whole of the relevant JV Party’s Participating Interest is Transferred pursuant to such Combination Transaction, to a single transferee or to transferees that are all Affiliates of the same ultimate Parent Company, in accordance with the relevant provisions of this Clause 17.

任何合资方，通过股权出售的方式，依照第17.4.3 或 17.5.4条，可以转让所有但不是部分参股权益，还有部分地依照17条中的规定。相关合资方整个参股权益将依照联合处理被转让给一个单独的受让人或者一些受让人，这些受让人是同一个最终母公司的所有小属股民，依照第17条的相关规定。

18 Compulsory Sale of Interest必须的销售利益 18.1 Upon the occurrence of: 鉴于一下发生时

18.1.1 an Insolvency Event in respect of a JV Party (an “Insolvency Default”); or

关于合资方的破产事件；或者

18.1.2 the Participating Interest of any JV Party or any Affiliate which holds any part of such JV Party’s Participating Interest falling below 10 per cent; or

任何合资方或者任何小属股民的参股权益，都应持有10%以下这样的合资方的参股权益；或者

18.1.3 a breach of Clause 17 of this Agreement by any JV Party, 任何合资方关于此协议违背第17条的。

(in each case the relevant JV Party comprising the “Breaching Party”) the JV Parties that together hold in aggregate a majority of the Participating Interests held other than by the Breaching Party (the “Non-Breaching Parties”) may by written notice require the Breaching Party to transfer or procure the transfer of all (and not part only of) its Participating Interest to the Non-Breaching Parties (pro rata inter se in the proportion that each Non-Breaching Party’s Participating Interest bears to the aggregate Participating Interests of the Non-Breaching Parties) at the Prescribed Price with full title guarantee, free from all claims, equities, liens and encumbrances and together with all rights and benefits attaching thereto. （当相关合资方组成“违背方”时），合资方所持股比违背方，总计占绝大多数参股权益时，可以通过书面通知的方式，以完全担保指示的价格要求违背方转让或者获得转让所有（不是部分）它的参股权益给非违背方（按照每个非违背方所参股权益所占非违背方总的参股权益的比例），免除了所有的索赔，权益支出，滞留和留置，及另外粘连的所有权利和利益。 18.2 Any notice served pursuant to Clause 18.1 shall:依照18条所提供的任何通知要：

18.2.1 be delivered within 30 days of the relevant event occurring or any Non-Breaching Party becoming aware of such event; and

在相关事件发生或者任何非违背方知道了此事件后的30日内应该下达，同时

18.2.2 specify the nature of the event and the Prescribed Price (provided that if the Prescribed Price is not available as at the date of the notice, the Non-Breaching Parties shall notify the Breaching Party of it as soon as practicable thereafter). 指明此事件的性质和规定的价格（提供是否规定的价格在通知日当天是否可用，一旦可实行，非违背方就要通知违背方这一点）。

18.3 Following the delivery of a notice pursuant to Clause 18.1, the JV Parties shall use their reasonable endeavours to agree a fair price for the relevant Participating Interest PROVIDED ALWAYS THAT, if the JV Parties have been unable to agree a fair price within 30 days of the

delivery of a notice pursuant to Clause 18.1, the Non-Breaching Parties shall forthwith instruct a Valuer to determine the fair value of the Breaching Party’s Participating Interest. If the Non-Breaching Parties have been unable to agree on the identity of a Valuer within 60 days of the delivery of a notice pursuant to Clause 18.1, any Non-Breaching Party may apply to the President for the time being of the Institute of Chartered Accountants in England and Wales to request that they nominate a Valuer. In determining the fair value of the Interest, the Valuer shall value that Interest as a whole and shall:

依照第 18.1条，通知下发后，为了一直那样提供的相关参股权益，合资方要竭尽全力承认一个公平的价格，如果合资方在依照18.1条通知下发后的30日内不能认同一个公平的价格，那么非违背方将会毫不犹豫地提供一个估算，来决定违背方参股权益的公平的价格。如果非违背方依照第 18.1条的规定，在通知下发的60日内不能认同估价，那么任何非违背方都可以申请在英格兰和威尔士的会计师协会当时任职的主席，请求他们提供一个估价。在决定股权公平价值时，评估者应该整体评估其价值，还要：

18.3.1 be considered to be acting as an expert and not as an arbitrator and its decision shall be final and binding on the parties in respect of the value ascribed to the Interest only;

被认为是作为一个专家的行为，而不是作为一个仲裁者，，关于这里所说的股利的价格，他的决定将是最终的不可改变的。

18.3.2 have regard to the following principles and assumptions in valuing the Breaching Party’s Participating Interest:

在评估违背方参股权益的价值时，并应该重视以下规则和责任：

(i) that the consolidated net assets of the JV Company shall be valued on the basis of an arm’s length sale between a willing vendor and a willing purchaser;

合资公司资产净额的整理应该在有意愿的卖方和有意愿的买方之间的短线交易的基础上来评估。

(ii) that where a company is then carrying on business as a going concern, it shall be assumed that it will continue to do so;

在继续开展生意作为长期经营的公司，这些举措被认为是连续实施的：

(iii) that where a company is not then carrying on a business as a going concern, it shall be assumed that it will continue not to do so;

在没有继续开展生意作为长期经营的公司，这些举措被认为是没有连续实施的；

(iv) that the Breaching Party’s Participating Interest shall be assumed to be capable of being transferred without restriction;

违背方的参股权益应该被认为是有能力没有任何限制地被转让出去。

(iv) that each Breaching Party’s Participating Interest shall have the same value as corresponds to its proportion of the value of all the Participating Interests taken as a whole;

每个违背方的参股权益应该具有相应于其所占所有参股权益比例的相同的价值

(v) that no reduced or additional value shall be attached to any holding of shares by virtue only of such holding comprising, or after purchase conferring, a majority or minority of the total issued share capital of the relevant company;

依靠这样的控股组合，即所持股没有减少也没有增加其价值，或者购买了授予的股份后，或者相关公司发行的所有股金的多数或者少数

(vi) that due regard shall be given to the conclusions of the most recently completed cash flow statement, balance sheet, profit and loss statement forecasts, Budgets, Programmes, reserves

statements and/or approve life of mine plans prepared in relation to the JV Company;

对于最近的现金收支一览表，资产负债表，损益表，预报，预算，计划应给予适当的关注，保留这些结论和有关合资公司自我所做的一些计划。

(vii) that due regard shall be made to the value attributed to any Participating Interest in any recently completed arm’s length transfer of such Participating Interest; and

对于任何参股权益最近所完成的一些短线交易，要对参股权益的价值给予适当的关注。 (ix) that in all other respects the principles and practices customarily applied in the previous audited consolidated accounts of the JV Company shall be applied; and

有关通常适用于先前合资公司的审计合并报表原则和操作，应应用，并，

18.3.3 have regard to any outstanding and unpaid Contributions of the Breaching Party and any liabilities (including contingent liabilities) of the JV Company.

应关注违背方一些突出的未缴摊款和合资公司的那些负债（包括暂时性的负债） 18.4 The Prescribed Price shall be calculated: 应该计算规定的价格

18.4.1 where an Insolvency Event occurs or the Participating Interest of a JV Party falls below 10 per cent., as 100 per cent. of the fair value of the Breaching Party’s Participating Interest, calculated in accordance with Clause 18.3; and

当破产事件发生时或者合资方的参股权益降到10%以下时，因为违背方参股权益的公平价值是100%，那么应该依照18.3条计算价格；和

18.4.2 where a breach of Clause 17 occurs, as 90 per cent. of the fair value of the Breaching Party’s Participating Interest, calculated in accordance with Clause 18.3.

第17条所发生的破坏，由于违背方的参股权益的公平价值是90%时，应该依照第18.3条来计算。

For the purposes of Clause 18.4.2, the parties acknowledge and agree that where a Breaching Party breaches Clause 17, each Non-Breaching Party will suffer loss, damage and inconvenience which is unable to be precisely quantified at the date of this Agreement. The parties further acknowledge and agree that such loss, damage and inconvenience suffered by each Non-Breaching Party may be considerable and the parties therefore agree that in such circumstances it will be appropriate for the Prescribed Price of the Breaching Party’s Participating Interest to be 90 per cent. of the fair value of the Breaching Party’s Participating Interest, such discount representing a genuine pre-estimate by the parties of the amount of loss, damage and inconvenience likely to be suffered by a Non-Breaching Party in such circumstances.

鉴于18.4.2中的目的，各方承认并赞成，第17条中所述的违背方，及每一个违背方要遭受损失，赔偿，以及在此协议生效日因不能很好地量化而带来的不便。这些违背方进一步承认并赞同这些损失，赔偿和每个非违背方所遭受的不便是相当大的，因此他们同意在这种情况下，违背方参股权益所规定的价格为90%是适当的。这样的折扣表现了在这类情况下违背方对一个非违背方很可能遭受的损失，赔偿和不便一个真实的预先评估

18.5 Upon notice of the Prescribed Price, the Breaching Party shall transfer the entirety of the Breaching Party’s Participating Interest in accordance with Clause 18.1 above, against payment of the Prescribed Price.

对于规定的价格的通知，违背方根据指定的价格，依照以上的18.1条会转让所有的参股权益

18.6 If the Breaching Party shall fail or refuse to transfer any part of the Breaching Party’s Interest in accordance with its obligations hereunder, the relevant Non-Breaching Parties shall (to the extent possible under applicable law) execute and deliver on behalf of the Breaching Party the

necessary transfer and may receive the purchase money in trust for the Breaching Party and cause the purchaser to be registered as the holder (where relevant). The payment of the purchase money as aforesaid shall be a good discharge to the purchaser (who shall not be bound to see to the application thereof) and after the purchaser has been registered in purported exercise of the aforesaid powers the validity of the proceedings shall not be questioned by any person.

根据一下的指责，如果违背方未成功转让或者拒绝转让违背方的任一部分权益，那么相关的非违背方将会代表违背方（在适用法律范围内）执行和交付必要的过户，同时可以为了违背方而接受被托管的买价，同时使买方作为一个持股人而登记在案。上述定价的支付是对买方（并不一定要看到申请）的债务的清偿，购买之后会纪录在案，其合法性不容置疑。

18.7 No reduction of the Participating Interest of a JV Party shall relieve such JV Party of any of its liabilities or obligations under this Agreement that arose prior to such reduction whether to other parties to this Agreement or to third parties.

一个合资方参股权益没有减少，会在这个先前就出现是否针对其他合资方或第三方而减少的这个协议下，可以缓解这个合资方它的任何负债或者债务。

18.8 Where a transfer of a Participating Interest takes place pursuant to this Clause 18 as a result of the occurrence of the circumstances described in Clause 18.1, all costs (including tax) arising directly from the relevant transfer of Interests shall:

作为第18.1中描述的情况发生的一个结果，依照第18条，一个参股权益发生转让时，因股权相关转让而直接引起的所有费用将要：

18.8.1 in the circumstances described in Clause 18.1.1, fall where they are due under applicable law;

在18.1.1所描述的那些情况下，依照可适用的法律执行。

18.8.2 in the circumstances described in Clause 18.1.2, (a) be borne by the Breaching Party where its Participating Interest falls below 10 per cent. following a dilution pursuant to Clause 15.2.3, or (b) fall where they are due under applicable law in all other circumstances; and

在18.1.2, (a)条所描述的那些情况下，依照15.2.3条的一个释析，当违背方的参股权益跌落至10%一下时，将适合于所有适用的法律。

18.8.3 in the circumstances described in Clause 18.1.3, be borne by the Breaching Group. 在第18.1.3条所描述的情况下，违背方所承担的 19 Default and Dilutio不履行责任

19.1 Notice of Default 不履行责任的通知

If any JV Party defaults in complying with any of its obligations to make any Contribution under this Agreement (a “Defaulting Party”), any other JV Party which is not then in default (a “Non-Defaulting Party”) may serve a written notice of default on the Defaulting Party and the JV Company specifying the nature of the default. The notice may be served at any time that the Defaulting Party remains in default.

如果任何合资方有渎职行为，未能成功地遵守其职责，在此协议下没有做任何的贡献，那么任何未渎职的合资方可以提供一个关于渎职方渎职以及阐明渎职行为特性的书面渎职的通知。这个通知可以在渎职方产生渎职行为的任何时间出示。 19.2 Consequences of default渎职结果

19.2.1 During the period in which a Defaulting Party is in default, that Defaulting Party: 在渎职方产生渎职行为期间，渎职方：

(vi) is not entitled to vote on any matter coming before the JV Board of Directors but will be deemed to be present for the purposes of determining a quorum at any meeting of the JV Board of Directors; and

在合资董事会召开前期，没有资格就任何事务进行表决，但是为了决定合资董事会在任何会议上的一个法定人数，自然被认为是其中的代表。

(vii) is not entitled to receive any information with respect to the Venture. 没有资格接受有关投机的任何信息。

19.2.2 While Clause 19.2.1(i) applies, the Non-Defaulting Parties will be entitled to cast votes at JV Board of Directors meetings in the proportions that their respective Participating Interests bear to the aggregate of their Participating Interests.

在19.2.1(i)条申请期间，非渎职方会被授权对合资董事会，以一定的比例，做出对他们各自的参股权益的投票。

19.2.3 If a JV Party is reinstated by legal action, payment of debt or otherwise, its right to vote at JV Board of Directors meetings will also be reinstated, but votes taken or matters decided during the period in which it was not entitled to vote will be valid. 如果一个合资方通过诉讼，债务偿还或者其他方式恢复了其身份，他投票合资股东大会的权利也要恢复，但是在其未授权表决期间所做的投票或者事务的决定都是有效的。 19.3 Failure to remedy 赔偿失败

If the Defaulting Party does not remedy the default within 30 days following the service of a notice of default, any Non-Defaulting Party, without prejudice to its other rights, powers and remedies in respect of the default, may elect by notice to the Defaulting Party to require that the Participating Interest of the Defaulting Party be reduced in accordance with Clause 15.2 and Clauses 15.2.3 and 15.2.4 shall apply in relation thereto and, accordingly, the amount by which the JV Party’s Interest is reduced pursuant to Clause 15.2.1 shall be increased by a factor of 1.10. 如果渎职方未能在渎职通知下发后的30天内对渎职进行补救，那么任何非渎职方，在对渎职方其他权利，能量及关于渎职的补救无任何偏见的情况下，可以以通知的方式选择渎职方，这需要渎职方的参股权益，依照第15.2条，第15.2.3条和第15.2.4条来减少，因此合资方权益减少的份额会依照第15.2.1条以1.10中的一个要素来增加。 19.4 Recalculation of Participating Interests参股权益的重算

19.4.1 On the recalculation and reduction of the Participating Interests of a Defaulting Party under Clause 19.3:

依照第19.3条，渎职方的参股权益的重算和减少：

(viii) the obligation of the Defaulting Party to make the relevant Contribution will be taken to be discharged and satisfied in full with effect from the date of the notice under Clause 19.3; and 违背方做出相应贷款的这一义务将被用来清偿债务和依照第19.3条，自通知下发日起，对其效果完全的满意。

(ix) the aggregate Participating Interests of those of the Non-Defaulting Parties will be increased by a percentage equal to the percentage by which the Participating Interest of the Defaulting Party has been reduced. That percentage will be allocated among them in the proportions that their respective Participating Interests bear to the aggregate of their Participating Interests at that date or in any other proportions as they may agree.

那些非违背方的集合的参股权益将以相同于违背方减少的参股权益的百分比来增加。那个百分数将以他们各自参股权益一定的比率来分派。他们各自参股权益是指自他们达成协议的那一日起，他们参股权益的比率。

19.4.2 The Manager shall calculate the Participating Interests of the JV Parties at the intervals specified in Clause 15.3, as if the Defaulting Party were an Abating Party (and at each such calculation the Manager must notify the JV Parties of their respective Participating Interests, so calculated).

经理要在第15.3条指定的那个间隙，计算合资方参股权益，就好像是是违背方成了失效方一样（对于每一个计算，经理必须注意合资方他们各自的参股权益，再来计算）。 19.5 Resumption of contributions 贷款的恢复

The Defaulting Party may resume Contributions for the relevant Programme and Budget for the remainder of the period to which it relates in accordance with the reduced Participating Interest calculated in accordance with Clause 19.3. The Defaulting Party must give notice of its election to resume Contributions to each of the other JV Parties and on giving notice will be obliged to contribute to all further project expenditure in accordance with its reduced Participating Interest and this Clause 19 applies in relation to that obligation.

渎职方可以继续对相关的项目和预算进行贷款，依据第19.3条，为了和减少的参股权益计算统一起见，违背方对他的选择必须给出通知，来继续对每个其他的合资方做出贷款，下发通知时，依照它减少的参股权益和有关这个职责的第19条，并被责成对所有其他的项目进行贷款。

19.6 Adjustment of Participating Interest 参股权益的调整

19.6.1 If the Participating Interest of a JV Party is reduced or increased under Clause 19.4, the JV Parties agree that either the Defaulting Party’s Participating Interest must be transferred to the Non-Defaulting Parties or that shares in the JV Company must be issued to the Non-Defaulting Parties so that the Participating Interests are held in accordance with the Participating Interests of the JV Parties as determined under Clause 19.4.

如果一个合资方的参股权益依照第19.4条减少或者增加了，那么合资方会同意要么违背方的参股权益必须转让给非违背方，要么其在合资公司的股权必须下发给非违背方，这样依照第19.4条的决定，合资方的参股权益也被掌握了。

19.6.2 Each of the JV Parties must promptly do everything necessary or appropriate to ensure that either transfers of Participating Interests are effected or shares in the JV Company are issued in order to give effect to Clause 19.6.1. In the event of a transfer of Participating Interests, Clause 15.5.4 shall apply, mutatis mutandis.

每个合资方必须马上做一切必要和适当的事情来确保参股权益的转让是有效的，或者在合资公司的参股为了第19.6.1产生效用而下发了。在参股权益转让的事件中，第15.5.4将实用之。

20 Terms and consequences of transfers of Participating Interests 参股权益转让的条件和结果 20.1 Transfer terms 转让条件

Any sale and/or transfer of Participating Interests pursuant to this Agreement shall be on terms that those Participating Interests:

依照此协议的任何参股权益的交易或转让都依照以下条件：

20.1.1 are transferred free from all claims, pledges, equities, liens, charges and Encumbrances; and

在没有任何索赔，抵押，权益支出，滞留，控诉和留置的情况下转让；同时

20.1.2 are transferred with the benefit of all rights attaching to them as at the date of the relevant transfer.

在相关转让的那一天，连带的所有权利益也被转让。 20.2 Further assurance 进一步担保

Each party shall do all things and carry out all acts which are reasonably necessary to effect the transfer of the Participating Interests in accordance with the terms of this Agreement in a timely fashion.

结合这个协议的一些条件，每一方都应竭尽全力实施所有的行动，使得参股权益的转让实现其效果。

20.3 Return of documents, etc.文档返还，等等

On ceasing to be a JV Party, a JV Party must hand over to the Venture material correspondence, Budgets, Programmes, schedules, documents and records relating to the Venture held by it or an Affiliate or any third party which has acquired such matter through that JV Party and shall not keep any copies.

一个合资方终止其身份后，合资方必须移交其风险贷款公函往来，预算，工程，进度，资料，贷款纪录，或者合资方的这件事所需要的其小属股民，或者其它第三方的资料，而不应保留拷贝件。

20.4 Assumption of obligations 债务承担

The parties shall procure that no person other than an existing JV Party acquires any Participating Interests unless it enters into a Deed of Adherence agreeing to be bound by this Agreement as a JV Party and any other agreements in connection with the Venture as a JV Party.

转让方将获得：只有现存的合资方可以获得任何参股权益，没有其它法人团体可以，除非它在连带契约里有被约束作为一个合资方和以及它作为合资方所贷款中牵扯的其他协议约束到了它

20.5 Removal of appointees 财产受益人的免除

If a JV Party ceases to be a JV Party, the JV Party Representative appointed by it shall be removed from the JV Committee with immediate effect.

如果一个合资方终止了其合资方的身份，那么其指定的合资方代表紧接着将会从合资委员会退出。

PART E. GENERAL PROVISIONS总则 21 Interpretation 阐述

In this Agreement (including the Recitals): 在这个协议（包括叙述）中 21.1 Definitions定义

“Abating Party” has the meaning given in Clause 15.2.1;

“Affiliate” means, in relation to any undertaking: “Affiliate”意味着跟任何企业都有关

(a) a Parent Company thereof; and 它的母公司

(b) any undertaking which is for the time being controlled, directly or indirectly, by such undertaking or any of such undertaking’s Parent Companies,

在那段时期直接，或者间接被这样的企业或者此企业的母公司所控制的任何企业。 and for this purpose “controlled” means: 为了“控制”的目的，意思是：

(x) an undertaking is directly controlled by another undertaking beneficially owning shares or other ownership interests carrying more than 50 per cent. of the votes at a general meeting of shareholders (or its equivalent) of the first mentioned undertaking;

一个企业直接由另一个拥有股权的企业获利性地掌控，或者其他所有权股份拥有超过50%

的个人所掌控，在股东大会上通过投票的形式来选出第一次提及的企业。

(xi) an undertaking is indirectly controlled by another undertaking if a series of undertakings can be specified, beginning with that undertaking and ending with the controlling undertaking, so related that each undertaking in the series is directly controlled by one or more of the undertakings earlier in the series; and

一个企业间接地由另一个企业控制，如果一系列的企业能被指定，并能随着控制企业开始和结束而开始和结束，那么在这一系列中相关联的每个企业都会直接由一个或者更多这样的企业所控制。

(xii) a “Parent Company” shall comprise an undertaking which, directly or indirectly, controls any undertaking as aforesaid;

一个母公司是由一个直接或者间接控制其他前述任何企业的企业组成

“Approved BFS” means the BFS approved by the JV Committee pursuant to Clause 5.3; “经核准的档案系统”指依照第5.3条，由合资委员会核准的档案系统。

“Approved Exploration Programme” means an Exploration Programme which has been approved in accordance with Clause 14;

“经核准的勘测项目”指依照第14条核准过的勘测项目；

“Approved Feasibility Study” means the Approved BFS or a Feasibility Study for an Expansion Project which has been approved in accordance with Clause 14, as the case may be;

“被认可的可行性研究”指正如情况可能的那样，依照第14条，被核准证实的对扩张方案的一些核准通过的档案系统或者可行性研究。

“Approved Feasibility Study Programme” means a Feasibility Study Programme approved in accordance with Clause 14;

“经核准的可行性研究程序”指依照第14条核准过的可行性研究程序；

“Approved Operating Budget” means an Operating Budget which has been approved in accordance with Clause 14;

“经核准的活动经费预算”指依照第14条，已被核准过的活动经费预算；

“Approved Programme” means a Programme approved in accordance with Clause 5.3 or Clause 14;

“经核准的程序”指依照第5.3 条或第14条被核准的一个程序；

“Approved Project Programme” means a Project Programme which has been approved in accordance with Clause 14;

“经核准的项目程序”指依照第14条经过核准的一个项目程序。

“BFS” or “Bankable Feasibility Study” means a finalised study on the feasibility of development of the Operational Mine, likely to be acceptable to the main international banks active in project finance;

“档案系统”或“银行能接受可行性研究”意味着运作的矿业发展的可行性研究，很可能在项目资金方面被大型国际银行接受。

“BFS Budget” means the agreed budget for completion of the BFS set out in Schedule 2; “档案系统预算”是指对进度2中档案系统完成经过协议的预算。

“BFS Contribution” means a Contribution made to fund the finalisation of the BFS; “档案系统贷款”是指为完成档案系统所做的资金贷款。

“BFS Development” means the Development involved in constructing the Operational Mine following a Decision to Proceed;

“档案系统开发”是指决定开发矿业后所涉及的建造

“Budget” means the BFS Budget or a budget prepared in accordance with Clause 14; “预算”指BFS预算或者依照第14条准备的一个预算；

“Business Day” means a day which is not a Saturday or Sunday or a bank or public holiday in (i) England and Wales or (ii) in the case of payments, in the jurisdiction of the payer and the payee; “生意日”指不是星期六或者星期天，或者英国和威尔士银行或公众的一个假日，或者付款人和收款人在资金支付上有限制的日期。

“Bylaws” means the Bylaws (or other equivalent constitutional documents, including any partnership agreement) of the firm, Legal Entity or other body in question;

“次要法规”指次要法规（或者其他类似构成的文件）和公司，法人实体或者其他团体的合伙协议 。

“Closing Condition” has the meaning set out in Clause 3.1; “结束条件”意思已经在第3.1中有指明。

“Colet” means Colet Mining and Development Corporation, a company incorporated in the Philippines and whose registered office is [●];

“Colet”指Colet 矿业和发展企业（即在菲律宾合并并注册的一个公司） “Colet Claims” has the meaning given in the Recitals above; “Colet 索赔”的意思在上面已经单独给出；

“Combination Transaction” has the meaning given in Clause 17.6; “合并事务”的意思已经在第17.6中有给出；

“Confidential Information” has the meaning given in Clause 25.2; “机密消息”在第25.2中已经给出了含义；

“Continuing Party” has the meaning given in Clause 6.1.1; “机密消息”在第6.1.1中已经给出了含义；

“Contributions” means cash contributions by JV Parties to the Venture; “贷款”指合资方对投机所做的现金的贷款

“CRC Participating Interest” means the entire interest of CRC and its Affiliates (excluding the JV Company) in the JV Company from time to time, in the form of shares or subordinated loans or any other form of Contribution, in each case as from Closing (provided that for every US$662/3 of the Contributions made by Glencore pursuant to the Approved BFS, US$55 will be deemed to have been made by Glencore and the remainder shall be deemed to have been made by CRC, and for every US$331/3 of the Contributions made by Nanjing Mining pursuant to the Approved BFS, US$25 will be deemed to have been made by Nanjing Mining and the remainder shall be deemed to have been made by CRC), such interest to constitute 20 per cent. of all of the Participating Interests on Closing, subject to any adjustments pursuant to Clauses 6 or 8;”

“CRC 公司参股权益”指CRC和它的下属股民（除了合资公司）在合资公司的全部股利，以股权，从属贷款或者其他贷款形式（依照经核准的BFS，Glencore公司所提供的每一项US$662/3 的贷款后，他就可以获得US$55，余数自然是由CRC方完成，依照经核准的BFS，南京矿业每做出US$331/3的贷款，US$25自然就是由南京矿业完成，剩下的肯定是由CRC完成）在所有参股权益在结束时只占贷款的20%，其带来的这些收益要受第6或第8条的调控。

“CRC Initial Interest” means CRC’s remaining 20 per cent. interest in the Hinoba-an Interest after the grant of the Glencore Initial Interest and the Nanjing Mining Initial Interest pursuant to Clause 2;

“CRC 最初利益”是指依照第2条，承认Glencore公司和南京矿业最初利益后，CRC所保

留的20%的利益；

“Decision to Proceed” has the meaning given in Clause 5.3.4; “继续决定“其含义已在第5.3.4中给出;

“Deed of Adherence” means a deed in the form set out in Schedule 3; “跟随行为“指第3中给出那种形式的行为;

Defaulting Party” has the meaning given in Clause 19.1; “渎职方”其含义已在第19.1中给出；

“Departee” has the meaning given in Clause 17.5; “渎职方”其含义已在第19.1中给出；

“Development” means all activities excluding Exploration and Mining conducted in accordance with this Agreement to prepare a deposit for the extraction and processing of minerals; “开发”指依照此协议所进行为了对矿物制的提取和加工做准备的一个存款，而进行的除了勘探和采矿的所有活动。

“Drawdown Notice” means a notice given by or on behalf of the JV Company to any of the JV Parties with respect to a Contribution and given in compliance with the provisions of this Agreement;

“拨款通知”指合资公司自己或者代表合资公司所下发给任何一个合资方的关于贷款的通知。 “Encumbrance” means any claim, charge, mortgage, lien, option, equity, power of sale, hypothecation, usufruct, retention of title, right of pre-emption, right of first refusal or other third party rights or security interest of any kind or an agreement, arrangement or obligation to create any of the foregoing and “Encumber” shall be construed accordingly;

“阻碍”指任何索赔，收费，抵押，留置，选择，资产净值，销售权，担保契约，使用权，权利保持力，先占权，先拒权，或者其他第三方权利或者任何种类的担保物权，或者为了创造前述的任何方面的一个协议，安排或者义务，阻碍要针对性地解释。

“Participating Interests” means the CRC Participating Interest, the Glencore Participating Interest, the Nanjing Mining Participating Interest and the interests in the equity of the JV Company resulting from any transfer of the aforementioned interests, and “Participating Interest” means any one of them;

“参股权益”指CRC参股权益，Glencore公司参股权益，南京矿业参股权益，以及因上述权益的任何转让而发生的合资公司和权益。所以“参股权益“指它们中的任何一个；

“Expansion Project” means any project relating to any Exploration, Development or Mining, other than the BFS Development;

“勘察项目”指有关任何勘探，开发或者采矿的任何项目，除了BFS发展外。

“Exploration” means all activities, excluding Development and Mining, directed towards ascertaining the existence, location, quantity, quality or commercial value of deposits of minerals, other than such activity forming part of the production of the BFS;

“勘察”指所有的行动，除了发展和矿业外，直接勘察矿物质的存在，位置，数量，质量或者商业价值的行为，除了促成BFS形成的一些行为外。

“Exploration Programme” means an exploration programme prepared in accordance with Clause 14;

“勘察方案”指依照第14条已经准备的探试方案；

“Feasibility Study” means a study into the feasibility of an Expansion Project; “可行性研究”指对一个扩张计划的一个可行性的研究；

“Feasibility Study Programme” means a programme with respect to a Feasibility Study which is prepared in accordance with Clause 14;

“可行性研究方案”指依照第14条已经准备的关于可行性研究的一个方案；

“Financial Year” means a period of 12 months ending on [●] or such other date as may be determined by the JV Committee from time to time;

“财政年度”指一年中12个月中的一段时间，或者合资委员会有时候决定的某些日子。 “Glencore Participating Interest” means the entire interest of Glencore and its Affiliates (excluding the JV Company) in the JV Company from time to time, in the form of shares or subordinated loans or any other form of Contribution as from Closing (provided that for every US$662/3 of the Contributions made by Glencore pursuant to the Approved BFS, US$55 will be deemed to have been made by Glencore and the remainder shall be deemed to have been made by CRC, and for every US$331/3 of the Contributions made by Nanjing Mining pursuant to the Approved BFS, US$25 will be deemed to have been made by Nanjing Mining and the remainder shall be deemed to have been made by CRC), such interest to constitute 55 per cent. of all of the Participating Interests on Closing, subject to any adjustments pursuant to Clauses 6 or 8;

“Glencore 公司参股权益”指Glencore和它的下属股民（除了合资公司）在合资公司的全部股利，以股权，从属贷款或者其他贷款形式（依照经核准的BFS，Glencore公司所提供的每一项US$662/3 的贷款后，他就可以获得US$55，余数自然是由CRC方完成，依照经核准的BFS，南京矿业每做出US$331/3的贷款，US$25自然就是由南京矿业完成，剩下的肯定是由CRC完成）在所有参股权益在结束时只占贷款的55%，其带来的这些收益要受第6或第8条的调控。

“Glencore Participating Interest”

“Glencore公司参股权益”指Glencore公司

“Glencore Initial Interest” has the meaning set out in Clause 2; “Glencore 公司最初利益”其含义已在第2条中指出。

“HHL” means Hinoba Holdings Limited, a company incorporated in [●] and whose registered office is [●];

“HHL”指Hinoba控股有限公司，是个合资并注册的公司；

“HHPI” means Hinoba Holdings (Philippines), Inc., a company incorporated in the Republic of the Philippines and whose registered office is [●];

“HHPI”指Hinoba控股（菲律宾）有限公司，是个在菲律宾的合资并注册的公司；

“Hinoba-an Interest” means all of CRC’s indirect interest in the Colet Claims, the Hinoba-an Property and the Project, as described in the Recitals above;

“Hinoba-an Interest”指在Colet索赔中所有的CRC直接利益，Hinoba-an资产和起项目，以上单独有描述。

“Hinoba-an Property” means the mining leases and mineral claims, including the Don Jose and A1 ore deposits, that are the subject of the Colet Claims;

“Hinoba-an 资产”指开矿出租和矿物索赔，包括Don Jose和A1矿石沉淀，其受制于Colet 索赔。

“HSHI” means Hinoba-an & Sipalay Holdings, Inc., a company incorporated in the Republic of the Philippines and whose registered office is [●];

“HSHI”指Hinoba-an & Sipalay a控股有限公司，是个在菲律宾的合资并注册的公司；

“Initial Interests” means the Glencore Initial Interest, the Nanjing Mining Initial Interest and the

CRC Initial Interest;

“最初利益”指Glencore公司最初利益，南京矿业最初利益和CRC最初利益； “Insolvency Event” means , in relation to any entity, where: “破产事件”指有关任何实体的：

(c) an encumbrancer takes possession or a receiver or administrative receiver is appointed over the whole or any part of the undertaking, property or assets of that entity;

指接受方被就其实体全部或者部分事业，财产或者资产被指定要占有，接手或者管制。 (d) an order is made or a resolution is passed or a notice issued convening a meeting for the purpose of passing a resolution or any analogous proceedings are taken for the winding-up of that entity other than a members’ voluntary winding up solely for the purpose of amalgamation or reconstruction;

，一个命令被下达或者一个决议 被通过，或者为了通过一个决议的目的下发一个召集会议的通知，或者为了一个实体的结局而发生的任何类似的行动，而不是为了合并或者重建的目的而发生的成员自发的退出结束行为。

(e) such entity enters into a composition or arrangement with its creditors generally or is unable to pay its debts within the meaning of Section 123(1) of the Insolvency Act 1986; or

这样的实体在成为其中的一分子后或者和其债权人有协议后，不能在1986破产法中的123(1)部分所指的期限内清偿其债务；或者

(f) anything analogous and having substantially similar effect to any of the events specified in paragraph (c) of this definition occurs under the law of the jurisdiction of incorporation of the relevant entity;

任何类似的和依照相关实体法人权限法律下，对于此定义条款(c)中描述的事件有类似影响力的事件。

“Integrated Mining and Operating Agreement” means the agreement between Selenga and Colet dated 17 December 2004 pursuant to which Selenga is granted a 100 per cent. interest in the Colet Claims, subject to the Net Benefits Royalty; “矿业和经营合同的结合”是指2004年12月17日Selenga 和 Colet之间的一个协议，Selenga被受权在Colet的所谓中拥有100%的利润，同时服从总的净利润。

“Intermediary Holding Companies” means HHL, HHPI and HSHI, and “Intermediary Holding Company” means any one of them;

“媒介控股公司”指HHL, HHPI 和 HSHI，媒介控股公司指其中的任何一个； “JV Board of Directors” means the board established pursuant to Clause 11.2; “合资公司董事会”指依照第11.2条建立的董事会。 “JV Company” has the meaning set out in Clause 9.1.4; “合资公司”其含义已在第9.1.4中表明；

“JV Corporate Secretary” has the meaning given in Clause 11.3; “合资公司秘书”其含义已在第11.3中表明；

“JV Parties” means Glencore, Nanjing Mining and CRC and “JV Party” shall be interpreted accordingly;

“合资公司”指Glencore，南京矿业，CRC和已被说明的“合资方”；

“JV Party Director” means those persons who represent the JV Parties at the JV Board of Directors from time to time, as determined pursuant to Clause 11.2 and includes their alternates where the context requires;

“合资方主管”指在合资方董事大会上合资方的代表，正如依照第11.2条中决定的，包括

在必要的时候的轮流交替；

“JV Party’s Group” means a JV Party and its respective Affiliates and “JV Party’s Groups” shall be construed accordingly;

“合资方团体”指合资方和它的相应的股民，“合资方团体”，应该针对性地解析。

“Legal Entity” means any undertaking or other entity which has the status of a separate legal entity with power in its own name to own assets, incur liabilities, contract and be bound by its contractual obligations and to be sued and sue in its own name;

“法人实体”指任何企业或者其他实体，其拥有独自的法人实体这样的地位，拥有自己名义下的自己的资产，债务，合同，以及限制其的契约和有被控告或以他的名义控告的能量。 “Manager” has the meaning given in Clause 11.1; “经理”其含义已在第11.1中表明；

“Mining” means the mining of ore and waste, mining and processing of ore to produce Products, and disposal of waste rock and tailings;

“采矿”指对矿石和荒地的开采，对矿石的开采和加工来制造产品，对废石和尾料丢弃。 “Nanjing Mining Participating Interest” means Nanjing Mining’s entire interest in the JV Company from time to time, in the form of shares or subordinated loans or any other form of Contribution as from Closing (provided that for every US$662/3 of the Contributions made by Glencore pursuant to the Approved BFS, US$55 will be deemed to have been made by Glencore and the remainder shall be deemed to have been made by CRC, and for every US$331/3 of the Contributions made by Nanjing Mining pursuant to the Approved BFS, US$25 will be deemed to have been made by Nanjing Mining and the remainder shall be deemed to have been made by CRC), such interest to constitute 25 per cent. of all of the Equity Interests on Closing, subject to any adjustments pursuant to Clauses 6 or 8;“ “南京矿业参股权益”指南京矿业和它的下属股民（除了合资公司）在合资公司的全部股利，以股权，从属贷款或者其他贷款形式（依照经核准的BFS，Glencore公司所提供的每一项US$662/3 的贷款后，他就可以获得US$55，余数自然是由CRC方完成，依照经核准的BFS，南京矿业每做出US$331/3的贷款，US$25自然就是由南京矿业完成，剩下的肯定是由CRC完成）在所有参股权益在结束时只占贷款的25%，其带来的这些收益要受第6或第8条的调控。

“Nanjing Mining Initial Interest” has the meaning set out in Clause 2; “南京矿业最初利润”在第2条有其含义。

“Net Benefits Royalty” means the 3 per cent. net benefits royalty payable to Colet as the tenement holder pursuant to the terms of the Integrated Mining and Operating Agreement; “净利润特许权”意思是3%的净利润是可支付的，依照采矿和操作结合的协议，支付给Colet。 “Non-Continuing Party” has the meaning given in Clause 6.1.1; “非连续方”其含义已在第6.1.1中表明；

“Non-Defaulting Party” has the meaning given in Clause 19.1; “非渎职方”其含义已在第19.1中表明；

“Notice” has the meaning given in Clause 26.1 and its usage is limited to Clauses 26.1 and 26.2; “通知”其含义已在第26.1中表明，其使用受26.1 和 26.2条款的限制。 “Off-take Agreement” has the meaning set out in Clause 9.2; “排减采购协议”其含义已在第9.2中表明；

“Offer Terms” has the meaning given in Clause 17.4.1; “出价条件”其含义已在第17.4.1中表明；

“Offered Interest” has the meaning given in Clause 17.4.1; “出价的利益”其含义已在第17.4.1中表明；

“Operating and Management Agreement” has the meaning given in Clause 9.4; “经营和管理协议”其含义已在第9.4中表明；

“Operating Budget” means the budget in relation to the operations of the JV Company; “经营预算”指有关合资公司经营的预算；

“Operational Mine” means an open pit mine and flotation mill for the Mining of copper concentrate and other by-products at the Hinoba-an Property, as proposed in the BFS;

“运作中的矿山”指在BFS中被提议的，为了Hinoba-an 的资产铜矿和其他副产品而设的一个采石矿场和加工场。

“Prescribed Price” has the meaning given in Clause 18.4; “规定的价格”其含义已在第18.4中表明；

“Products” means products produced for sale by the Venture from time to time; “产品”指通过投资为了交易而生产的产品；

“Programme” means the BFS, an Exploration Programme, a Feasibility Study Programme or an Expansion Project Programme;

“程序”指BFS，一个勘测的程序，一个可行性研究程序或者一个项目扩展程序；

“Project” means the exploration, development and mining of the Hinoba-an Property and any Expansion Projects approved in accordance with the terms of this Agreement; “项目”指对Hinoba-an资产的勘测，开发和采矿，还有依照此协议任何被认可的拓展项目。 “Project Programme” means a programme with respect to an Expansion Project or the BFS Development prepared in accordance with Clause 14;

“项目程序”指关于扩展项目的一个程序或者依照第14条准备的BFS发展； “Purchasing JV Parties” has the meaning given in Clause 17.4.1; “合资方购买”其含义已在第17.4.1中表明；

“Relevant Group” has the meaning given in Clause 17.5; “相关集团”其含义已在第17.5中表明；

“Reserved Matter” has the meaning given in Clause 12.1; “保留问题”其含义已在第12.1中表明；

“Right” has the meaning given in Clause 29.5 and its usage is limited to the same Clause; “权利”其含义已在第29.5中表明；它的使用根据同样的条款受限；

“Selenga” means Selenga Mining Corporation, a company incorporated in [the Republic of the Philippines] and whose registered office is [●];

“Selenga”指Selenga矿业公司，一个在菲律宾的合资公司，其注册地是 “Selling JV Party” has the meaning given in Clause 17.4.1; “合资方卖出”其含义已在第17.4.1中表明；

“Technical and Financial Management Support Agreement” has the meaning given in Clause 9.3;

“技术财务管理支持协议” 其含义已在第9.3中表明 \“第三方交易”其含义已在第17.4.4中表明；

“Transfer” has the meaning given in Clause 17.1.2 and its usage as a noun or verb is limited to Clause 17;

“转让”其含义已在第17.1.2中表明，依照第17条，它的使用是作为一个名词或者动词；

“Valuer” ” means an independent valuation expert of international standing and reputation whose experience includes valuing enterprises carrying on businesses similar to that carried on by the JV Company at the relevant time; “估价者”指有国际身份和名望的一位不受约束的评估专家，其经验应有估价运行企业在相关时间被合资公司转让的案件。

“Venture” means the joint venture between the JV Parties to carry on the Project, as agreed in this Agreement;

“合资”正如在这些协议中有认同的那样，指合资方之间的合资一起运行到一个项目上； “Wider FTAA” means the Financial and Technical Assistance Agreement between the Republic of the Philippines and the HHPI covering the area applied for by HPPI on 18 July 1995; and

““Wider FTAA”指菲律宾共和国和1995年由HPPI申请其所占有区域之间的一个财务科技援助协议；和

“Xstrata Group” means Xstrata plc, a public company incorporated in England and Wales, whose registered office is at 4th Floor, Panton House, 25/27 Haymarket, London SW1Y 4EN and its Affiliates.

“Xstrata集团”指Xstrata股票上市公司，在英国和威尔士的合资公司。其注册地址：4th Floor, Panton House, 25/27 Haymarket, London SW1Y 4EN and its Affiliates.

21.2 Interpretation Act 1978 1978口译法

The Interpretation Act 1978 shall apply to this Agreement in the same way as it applies to an enactment.

1978口译法将应用于这个协议，同时也适合于一个这个制定。 21.3 Subordinate legislation 从属法令

References to a statutory provision include any subordinate legislation made from time to time under that provision.

谈及到一个法令规定，包括在那个规定之下有时候所做的任何从属法规。 21.4 Modification etc. of statutes 法令的修改等

References to a statute or statutory provision include that statute or provision as from time to time modified or re-enacted or consolidated whether before or after the date of this Agreement so far as such modification or re-enactment or consolidation applies or is capable of applying to any transactions entered into in accordance with this Agreement provided that nothing in this Clause shall operate to increase the liability of any party beyond that which would have existed had this Clause been omitted. 涉及到一个法令或者法令规定，其包括有时候修正的法令或规定，或者重新颁布或整理过是否在这个协议生效之前还是之后来申请这样的修改，重新制定或者合并。或者依照这个协议所规定的，申请任何进入的事务处理，以及条款中没有的 要增加任何被条款所忽略但真实存在的任何一方的义务。

21.5 Companies Act 1985 1985年公司法

The expressions “holding company”, “subsidiary” and “subsidiary undertaking” shall have the same meanings in this Agreement as their respective definitions in the UK Companies Act 1985 (as amended), and the word “undertaking” shall have the same meaning in this Agreement as it has in section 259 of that act. “控股公司”，“下属公司”和“下属企业”这些表达，在这个协议中会有相同的意思，同样地在1985年英国的公司法（已经修订）里他们各自的定义和单词“企业”在这个协议里有

相同的意思，就像在那个法律里第259部分那样。 21.6 Clauses, Schedules etc. 条款，进度 等等

References to this Agreement include any Recitals and Schedules to it and this Agreement as from time to time amended and references to Clauses and Schedules are to Clauses of and Schedules to this Agreement.

这个协议包括任何对它的叙述和进度，同时这个协议时不时地会有进行赔偿，会有关于一些进度的条款。

21.7 Headings 标题

Headings shall be ignored in construing this Agreement.

在这个协议的解析中标题将被忽略。 21.8 Liability 债务

Any provision of this Agreement which is expressed to bind more than one person shall, save where inconsistent with the context, bind each of them severally and not jointly and severally. 这个协议中关于表示约束更多人的任何规定，指除了那些跟上下文不一致的地方，分别约束而不是连带地约束。

21.9 Time of day 白天

References to time of day are to London time unless otherwise stated. 白天是指伦敦时间除非另有说明。 21.10 Winding-up结束营业

References to the winding-up of a person include the amalgamation, reconstruction, reorganisation, administration, dissolution, liquidation, merger or consolidation of such person and any equivalent or analogous procedure under the law of any jurisdiction in which that person is incorporated, domiciled or resident or carries on business or has assets.

一个法人结束营业是指包括合并，重建，重组，经营，解散，清算，归并或者这个法人的巩固，以及在这个法人所组成公司，定居地，或者拥有资产的所在地的法律权限下的其他一些相同或者类似的程序。 21.11 Information 信息

Any reference to books, records or other information means books, records or other information in any form including paper, electronically stored data, magnetic media, film and microfilm. 任何参考的书本，纪录或者其他信息是指书本，纪录或者其他包括文件，电子储存数据，媒体，电影和缩影胶片形式的其他信息。 21.12 Dollars 美元

All references in this Agreement to “$”, “dollars” or “cents” shall be deemed to be references to United States of America dollars or cents.

这个协议中所有提及的“dollars”或者”cents”都是指美国的美元或美分。 21.13 Procurement of Obligations 义务的程序

Where a provision of this Agreement requires, directly or indirectly, the act or omission of any of the CRC Parties or any of their directors, officers, employees or agents, CRC agrees to procure such act or omission by such person or persons. Where a provision of this Agreement requires, directly or indirectly, the act or omission of an Affiliate of a party to this Agreement, the relevant party shall procure such act or omission by such Affiliate to ensure compliance with the relevant provisions. Where a provision of this Agreement requires, following Closing, directly or indirectly, the act or omission of the JV Company or any of its directors, officers, employees or agents, the

JV Parties agree to jointly procure such act or omission by such person or persons.

这个协议命令的规定，直接或间接， 22 Warranties担保

22.1 CRC Warranties CRC担保

CRC represents and warrants to Glencore and Nanjing Mining that the statements set out in Part 1 of Schedule 4 are true and accurate as of the date of this Agreement and shall survive the execution of this Agreement.

CRC代表Glencore并向其和南京矿业担保第一部分第4节的陈述从协议生效日起，都是真实的和正确的，及时此协议被封杀，也照样有效。 22.2 Glencore and Nanjing Mining Warranties

Glencore和南京矿业担保

Glencore and Nanjing Mining each represent and warrant to CRC that the statements set out in Part 2 of Schedule 4 are true and accurate as of the date of this Agreement and shall survive the execution of this Agreement.

Glencore和南京矿业，每一方对都代表CRC表示并保证，第2部分第4节的陈述从协议生效日起，都是真实的和正确的，及时此协议被封杀，也照样有效。

23 Information, insurance, records, licences 消息， 保险，纪录，特许 23.1 Rights to information 消息权

A JV Party may at all reasonable times and at its own expense:

一个合资方会在所有合理时间，依靠自己的开支：

23.1.1 discuss the affairs, finances and accounts of the JV Company and the Venture with its officers and principal executives; and

和其官员和首席执行官讨论合资公司的事务，财政和账目，

23.1.2 inspect and make copies of all books, records, accounts, documents and vouchers relating to the JV Company and the Venture.

检查和纪录有关合资公司和投机的所有书本，纪录，账目，文件和凭证。 24 Duration and termination 持续和终止 24.1 Duration 持续时间

Subject to the other provisions of this Agreement, this Agreement shall continue in full force and effect without limit in point of time until the earlier of: 服从于这个协议的其他条款，这个协议将以全力毫无时间限制的持续并产生作用，直到之前； 24.1.1 the JV Parties agree in writing to terminate this Agreement; and 合资方以书面形式通知终止这个协议；同时

24.1.2 an effective resolution is passed or a binding order is made for the winding-up of the JV Company;

通过一个有效的决议或者因合资公司的解散而制作的附带命令；

provided that this Agreement shall cease to have effect as regards any JV Party who ceases to hold any Participating Interests save where expressly otherwise provided or for any of its provisions which are expressed to continue in force after termination.

假如这个协议将终止其效用，那么合资方的任何一方都要结束其对参股权益的控制，终止后任何表示要持续效力的任何规定都要提出来。 24.2 Termination 终止

Termination of this Agreement shall be without prejudice to any liability or obligation in respect of any matters, undertakings or conditions which shall not have been observed or performed by the relevant JV Party prior to such termination.

在终止之前，协议的终止，对于有关任何事务，企业或者相应的合资方不会遵守或执行的任何条件，对其责任和义务都没有任何的偏见。 25 Announcements and Confidentiality 公告和机密 25.1 Public announcements

A JV Party and its Affiliates must not make any public announcement or issue any circular relating to the Venture or this Agreement without the prior written approval of the other JV Parties. This does not affect any announcement or circular required by law or any regulatory body or the rules of any recognised stock exchange, but the party with an obligation to make an announcement or issue a circular shall consult with the other party/parties so far as is reasonably practicable before complying with such obligation.

没有其他合资方提前书面的认可，一个合资方和其下属股民绝对不能制造关于投资或者这个协议的任何公告或者发布任何的函件。这并不影响法律，调整实体，或者被认可的任何证卷交易所所必须的任何公告的发布。但是做一个公告或者发布一个函件的这个合资方，会参考其他合资方或实体，只要遵守职责前能合理地实行。 25.2 Confidential Information 机密信息

The parties shall use all reasonable endeavours to keep confidential and to ensure that their respective Affiliates and their respective officers, employees, agents, professional and other advisers and other permitted disclosees keep confidential any information (the “Confidential Information”):

合资方应该利用所有的能量，竭尽全力保守机密，并确保他们各自的下属股民，各自的长官，雇员，代理，自由职业者，其它顾问，以及其他受泄者对任何信息（机密信息）都要保守机密。

25.2.1 relating to the customers, business, assets or affairs of the JV Company or the Venture which they may have or acquire through ownership of an interest in the JV Company or the Venture;

有关合资公司或投资客户，交易，资产或事务，他们可以有或者获得合资公司或者投机冒险的利益的所有权。

25.2.2 relating to the customers, business, assets or affairs of the other parties or any of their Affiliates which they may have or acquire through being a JV Party or making appointments to the JV Committee or through the exercise of its rights or performance of its obligations under this Agreement; or

有关其它合资方或他们任何的下属股民的客户，交易，资产或事务，他们可以有或者获得合资公司或者投机冒险的利益的所有权。

25.2.3 which relates to the contents of the Off-take Agreement, the Technical and Financial Management Support Agreement or the Operating and Management Agreement (or any agreement or arrangement entered into pursuant to any of those agreements).

有关排减采购协议的内容，科技和财政管理支持这个协议，或者运作管理协议（任何协议或者依照这些协议的任何协议）。 25.3 Restrictions 约束

25.3.1 No party may use for its own business purposes or disclose to any third party any Confidential Information without the consent of the other parties.

在没有其他合资方允诺的情况下， 没有一个投资方会利用自己的交易目的或者泄露给任何第三方任何机密信息

25.3.2 This Clause does not apply to: 这一条不适用于：

(xiii) information which is or becomes publicly available (otherwise than as a result of a breach of this Clause); or

本来就是或者已变成公开舆论的信息（除了违背这一条所产生的结果外）；

(xiv) information which is independently developed by the relevant party or acquired from a third party, to the extent that it is acquired with the right to disclose it;

由相关方或者第三方获得的独立开发的一些信息，其程度是需要有权利透漏的。

(xv) information which was lawfully in the possession of the relevant party free of any restriction on disclosure;

免除了任何法律上的制约，在法律上被相关方所拥有的一些信息；

(xvi) information which following disclosure under this Clause, becomes available to the relevant party from a source which is not bound by any obligation of confidentiality in relation to such information;

在这一条款下，以被败露的信息，对相应的合资方已经变得有用，关于这个信息，并不受限于任何职责。

(xvii) the disclosure by a party of Confidential Information to its directors or employees or to those of its Affiliates who need to know that confidential information in its reasonable opinion for purposes relating to this Agreement but those directors and employees shall not use that Confidential Information for any other purpose; 机密消息被一方败露给了他的主管，雇员，或者以合理的观念为了这个协议需要知道机密信息的那些下属股民，不应该为了其他目的来利用那些机密信息；

(xviii) the disclosure by a party of Confidential Information to a bona fide potential third party purchaser (and such person’s advisers) of a Participating Interest that has entered into a binding agreement obliging it to comply with the provisions of this Clause 25 (and for such purposes, the bona fides of any member of the Xstrata Group shall not be challenged) where such third party (in the reasonable opinion of the disclosing party) needs to know that confidential information for the purposes of evaluating the potential purchase of a Participating Interest in accordance with the provisions of Clause 17 above;

机密信息被一方败露给了依照第25条的规定（为了这个目的，Xstrata集团任何成员的忠诚都不会受到挑战），已经进入协议附带内容并会是潜在第三方购买者（和这类人的顾问）时，这个第三方（以泄露方合理的观念），为了评估需一个参股权益潜在购买力，依照以上17条的规定，要知道那个机密信息。

(xix) the disclosure of information to the extent required to be disclosed by law or any court of competent jurisdiction, any governmental official or regulatory authority or any binding judgment, order or requirement of any other competent authority; (xx) 信息泄露的程度应该由法律透漏，或者有任何胜任权限的法院，任何政府官员或调整权威或者任何附带的判断，命令或者其他主管当局的需求；

(xxi) the disclosure of information to any tax authority to the extent reasonably required for the purposes of the tax affairs of the party concerned or any of its Affiliates; 信息败露给任何税收权威，为了此方或者其下属股民所关注的税收事务的目的，泄露程度需要知晓。

(xxii) the disclosure to a party’s professional advisers of information reasonably required to be

disclosed for purposes relating to this Agreement; or

信息败露给了一方的职业顾问，为了此协议相关的目的，败露的程度很合理地需要透漏；或者

(xxiii) any announcement, or circular made, or information provided in accordance with the terms of Clause 25.1.

任何公告，函件，或者依照第25.1的条件，所提供的信息；

25.3.3 Each party shall inform any officer, employee or agent, third party or any professional or other adviser advising it in relation to matters relating to this Agreement, or to whom it provides Confidential Information, that such information is confidential and shall instruct them:

每一方应通知其官员，雇员或者代理，第三方或者职业者，以及跟这个协议有关联的其他顾问，

(xxiii) to keep it confidential; and 保持机密，并且

(xxiv) not to disclose it to any third party (other than those persons to whom it has already been or may be disclosed in accordance with the terms of this Clause).

不泄露给任何第三方（除了那些根据此条款的条件，已经是或者可以成为被泄露给的对方）； 25.4 Damages not an adequate remedy没有适当矫正的损伤

Without prejudice to any other rights or remedies which a party may have, the parties acknowledge and agree that damages would not be an adequate remedy for any breach of this Clause 25 and the remedies of injunction, specific performance and other equitable relief are appropriate for any threatened or actual breach of any such provision and no proof of special damages shall be necessary for the enforcement of the rights under this Clause 25.

对一方可能会有的其他权利或者补救，没有偏见，因为第25条的对于任何违背破坏和禁令的修正，这些泄露方承认并赞同这个损害不足以来矫正，具体履行合同义务及其他公平的调剂，对于任何威胁或者实际上破坏了这些规则的，并且对于特殊损害没有证据的都很必要依照第25条来强制执行。 25.5 Survival 幸存

25.5.1 The disclosing party shall remain responsible for any breach of this Clause by the person to whom that confidential information is disclosed.

泄露方因其某个人泄露了机密信息，将会保持对于这个条款的任何泄露负有责任。

25.5.2 The provisions of this Clause 25.5 shall survive the termination of this Agreement for whatever cause for a period of four years.

第25.5中的规定不会因为4年期限的这个协议的终止而终止。 26 Notices 通知 26.1 Addresses 地址

Any notice, claim or demand in connection with this Agreement or with any arbitration under this Agreement shall be in writing in English (each a “Notice”) and shall be sufficiently given if delivered or sent to the recipient at its fax number, telex number or address set out in Schedule 5 or any other fax number, telex number or address notified to the sender by the recipient for the purposes of this Agreement and marked “IMPORTANT LEGAL NOTICE”. 任何通知，索赔或者跟这个协议相关的需求或者这个协议下的任何仲裁，都应该以英语的形式书写，同时要以第5条所显示的传真号码，电传号码或者地址充分地把通知下发出去，或者、为了这个协议的目的和所标示的“重要法律通告”而以传真号码，电传号码或者地质的方式充分通知。 26.2 Form 形式

Any Notice shall be in writing in English and may be sent by messenger, telegram, telex, fax or prepaid post (airmail in the case of international service). Any Notice shall be deemed to have been received on the next working day in the place to which it is sent, if sent by telegram, telex or fax, or 60 hours from the time of posting, if sent by post.

任何通知都以英语书写，并通过寄信，电传，传真或者预付快递（国际航空邮件服务）的方式下发下去。任何通知都要求在发出日后的第二个工作日收到，如果是通过电报，电传，传真或者60小时航空邮政的方式。

27 Whole agreement and remedies 整个的协议和矫正 27.1 Whole agreement 整个协议

This Agreement contains the whole agreement between the parties relating to the subject matter of this Agreement at the date hereof to the exclusion of any terms implied by law which may be excluded by contract and supersedes any previous written or oral agreement between the parties in relation to the matters dealt with in this Agreement. In this Clause “this Agreement” includes the Off-take Agreement and all documents entered into pursuant to this Agreement.

除了法律暗指的那些条款，在这个协议生效后与其主题相关的那些合资方之间的完整协议，可以通过合同排除，或者在这个协议中处理过的事务相关的那些合资方之间的任何珍贵的书写或口头的协议都可以通过合同排除或取缔。这个条款“这个协议”包括排减采购协议和所有依照这个协议的所有文件。 27.2 No inducement 无诱导

Each of the JV Parties acknowledges that it has not been induced to enter into this Agreement by any representation, warranty or undertaking not expressly incorporated into it.

合资方的每方都承认，不是因为其他的请求，担保或者承诺而达成了这一协议。 27.3 Remedies 矫正

So far as permitted by law and except in the case of fraud, each party agrees and acknowledges that its only right and remedy in relation to any representation, warranty or undertaking made or given in connection with this Agreement shall be for breach of the terms of this Agreement to the exclusion of all other rights and remedies (including those in tort or arising under statute). 只要法律允许，除了欺诈的情况，每一方都同意和承认跟这一协议相关而所做或发出的任何代表，担保或者企业都适合于这个协议的条款的违背，这个协议针对其他所有的权利和补救（包括那些民事侵权行为或者起因于法令下的行为），它唯一的权利和补救 27.4 Legal advice 法律忠告

Each party to this Agreement confirms it has received independent legal advice relating to all the matters provided for in this Agreement, including the provisions of this Clause, and agrees, having considered the terms of this Clause and the Agreement as a whole, that the provisions of this Clause are fair and reasonable.

这个协议的每一方确认，他已经收到了关于这个协议中所有提供的事件的独立的法律忠告，包括这个条款的一些规定，考虑到这个协议作为一个整体，同时赞同这个条款的规定是公平且合理的。

28 Force Majeure 不可抗力

No party will be liable for its failure to perform any of its obligations under this Agreement due to a cause beyond its reasonable control including, but not limited to, acts of God, fire, storm, flood, explosion, strikes, lockouts or other industrial disturbances, acts of public enemy, war, riots, laws, rules and regulations or orders of any duly constituted governmental authority, or non-availability of materials or transportation.

由于不可抗力的原因，但并不是局限于，上帝的行为，火灾，暴风雨，水灾，爆炸，罢工，停工或其他工人动乱，公敌行为，战争，暴乱，法律，规则，规章或者政府权威的命令或者原料或运输中的非适用性，没有一方会对它未成功履行业务而负担责任。 29 General概要

29.1 Survival of rights, duties and obligations 权利，关税和义务的幸存

Termination of this Agreement for any cause shall not release a party from any liability which at the time of termination has already accrued to another party or which thereafter may accrue in respect of any act or omission prior to such termination.

因任何原因造成的协议终止，也使得当事人同时终止了其对于另一方的任何任何义务，或者从那时以后，也使得任何行动也产生了终止。 29.2 Conflict with Bylaws 与次要法规的冲突

In the event of any ambiguity or discrepancy between the provisions of this Agreement and the Bylaws of any firm, Legal Entity or other body involved in the Venture, it is intended that the provisions of this Agreement shall prevail and accordingly the JV Parties shall exercise all voting and other rights and powers available to them so as to give effect to the provisions of this Agreement and shall further if necessary procure any required amendment to the relevant Bylaws.

这个协议中各规则，任何公司，法人实体或者涉及投资的其他团体其规则之间含糊不清或自相矛盾，意味着这个协议的规则将相应获胜，合资方将实行所有的投票，和其他权利，这样就对这个协议的规则产生了影响，如果必要，会进一步对相关的次要法规进行修正。 29.3 No partnership 无合伙人

Nothing in this Agreement shall be deemed to constitute a partnership between the parties nor constitute any party the agent of any other party for any purpose. 这个协议中没有什么被认为是组成了合资方之间的合伙关系，也没有为了任何目的组成的任何其他投资方。

29.4 Release etc. 免除等。

Any liability to any party under this Agreement may in whole or in part be released, compounded or compromised or time or indulgence given by that party in its absolute discretion as regards any party under such liability without in any way prejudicing or affecting its rights against any other party under the same or a like liability, whether joint and several or otherwise.

这个协议下任何一方的责任可以整体或者部分免除，混合，复合或者被另一方以它绝对的判断力而定时或者放任。在同样或者类似的职责下，逆着另一方的权利，被认为没有任何形式的偏见或影响的这个职责下的任何一方，要么是结合要么是相反。 29.5 Waiver 自动放弃

No failure of any party to exercise, and no delay by it in exercising, any right, power or remedy in connection with this Agreement (each a “Right”) shall operate as a waiver of that Right, nor shall any single or partial exercise of any Right preclude any other or further exercise of that Right or the exercise of any other Right. Any express waiver of any breach of this Agreement shall not be deemed to be a waiver of any subsequent breach.

任何一方的操作没有失败，跟这个协议相关的操作，权利，能量或者补救没有延误，将做为一个自动弃权者操作，也不会对排除的任何权利进行单独或者部分地操作。对于任何违背此协议的任何明确的弃权者并不意味着任何并发的违背。 29.6 Variation 变更

No variation of this Agreement shall be effective unless in writing and signed by or on behalf of

each of the parties.

这个协议的任何变更都是无效的，除非每方代表书写或者签名。 29.7 Assignment 委派

This Agreement shall be binding on and inure to the benefit of the parties and their successors and permitted assigns. The parties may not assign or transfer all or any part of their rights or obligations under this Agreement nor any benefit arising under or out of this Agreement without the prior written consent of the other parties except as contemplated by Clauses 17 and 20.

这个协议将连带结合，同时习惯于或者各方的益处，及他们的继承者和被允许的指派。在这个协议下，各方不可以分配，转让所有或者部分他们的权利，也不会在除了第17 和 20 条，在没有书面允诺的前提下，因这个协议或非它因素所产生的任何利益。 29.8 Time of the essence 精华时期

Time shall be of the essence of this Agreement, both as regards any dates, times and periods mentioned and as regards any dates, times and periods which may be substituted for them by agreement in writing between the parties.

这个协议的精华时间可以被认为是任何那些日子，时间和期限，各方以书面协议的方式所指出的那些日子，时间和期限。 29.9 Further assurance 进一步担保

At any time after the date of this Agreement the parties shall, and shall use all reasonable endeavours to procure that any necessary third party shall, execute such documents and do such acts and things as that party may reasonably require for the purpose of giving to that party the full benefit of all the provisions of this Agreement. 在这个协议生效日后的任何时间，各方会竭尽全力来获得任何必要的第三方会使这些文件生效，并做这些行为和事情就像是那一方可以合理地获得这个协议的所有利益一样。 29.10 Invalidity 无效

If any provision in this Agreement shall be held to be illegal, invalid or unenforceable, in whole or in part, under any enactment or rule of law, such provision or part shall to that extent be deemed not to form part of this Agreement but the legality, validity and enforceability of the remainder of this Agreement shall not be affected.

如果这个协议中的任何规定整体或者部分地是非法的，无效的，或者不可实施的，在任何制度或法令下，那么这个协议的剩下其他的部分的合法性，有效性和可实施性都将受到影响。 29.11 Counterparts 对方

This Agreement may be entered into in any number of counterparts, all of which taken together shall constitute one and the same instrument. Any party may enter into this Agreement by executing any such counterpart.

这个协议可以进入到其他很多相似的协议中，它们所有的在一起会建造一个相同的器械。任何一方都可能通过执行其他的副本而进入这个协议中。 29.12 Costs 成本

CRC (i) shall bear all legal, professional and other costs and expenses incurred by the CRC Parties and (ii) Glencore and Nanjing Mining shall each bear all such costs and expenses incurred therein in each case in connection with the preparation, negotiation and entry into this Agreement and the documents to be entered into pursuant to it.

CRC(i) 将要承担所有合法的，职业的或其他的花费和CRC方所产生的一些开支，还有

(ii) Glencore和南京矿业，在关系到准备，谈判和达成这个协议，以及可以进入其里的一些资料，随之所产生的开支，他们都要各自承担。

30 Contracts (Rights of Third Parties) Act 1999契约法1999（第三方权利）

A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement.

当一个人不是此协议的一方时，在1999年第三方法下，他就没有权利执行此协议下的任何条款。

31 Governing law and arbitration控制法和仲裁 31.1 Governing law 控制法

This Agreement and the documents to be entered into pursuant to it, shall be governed by and construed in accordance with English law.

这个协议和文件将要进入其中，并针对英国法律进行管理和解析。 31.2 Arbitration 仲裁

If there is any dispute concerning this Agreement or the performance or non-performance by either party hereunder, then such dispute will be resolved by arbitration in London conducted in the English language by a single arbitrator pursuant to the rules of the LCIA and, unless the parties agree otherwise:

关于这个协议如果有任何的争辩或者在此之下的任何执行方的作为和不作为，那么这样的辩论将会引来英语版本伦敦仲裁法来调解。依照LCIA的规则，除非各方都统一意见，否则将要通过一个单独的仲裁人来解决。

31.2.1 the LCIA will appoint the arbitrator; LCIA将委任仲裁者；

31.2.2 the claimant will serve its written claim within 14 days of the arbitrator’s appointment, the defence will be served within 28 days after that and the reply will be served 14 days thereafter, in each case with any documents relied upon attached;

在仲裁约定的14日内，原告将出具笔头的索赔，辩护方将在28天之内做出响应，回复将在其后的14天内出现，每个案例都带有其依附的文档；

31.2.3 the parties will be entitled to be represented by any person licensed to practice law in any jurisdiction;

当事人将被授权来回忆其以任何权限对法律的实施。

31.2.4 parties will be required to give general discovery of documents; 当事人被要求给出文件的一般发现。

31.2.5 the arbitration proceedings and the decision of the arbitrator will be confidential; and 仲裁程序和仲裁结果将是秘密的。

31.2.6 the costs of such arbitration will be paid as determined by the arbitrators.

In any event, the award made by the arbitrators will be final and binding upon the parties. 这样的仲裁花费由仲裁人支付。在任何事件下，仲裁人所做的判断是最种的和连带当事人的。

Schedule 1 进度1

Structure of the Hinoba-an Interest Hinoba-an利益结构

Schedule 2 进度1 BFS Budget BFS预算

Schedule 2 BFS Budget [To be agreed] Schedule 3 进度3

Deed of Adherence 坚持行为

THIS DEED OF ADHERENCE is made on *DATE+ by * + of * + (the “Covenantor”) 这个契约是在 日由契约之授方的 所完成。

SUPPLEMENTAL to a Joint Venture Agreement dated [DATE] and made between Copper Resources Corporation, Glencore Investments B.V. and Nanjing Xixia Mountain Xin Yang Mining Co. Ltd. (the “Agreement”).

铜原料公司，Glencore公司和南京市栖霞山新阳矿业有限公司之间所做的一个联合冒险协议在某日的一个补充协议。

The Covenantor covenants as follows: 契约之授方缔结契约如下：

1 The Covenantor confirms that it has been supplied with and has read a copy of the Agreement and covenants with each of the persons named in the Schedule to this Deed to observe perform and be bound by all the terms of the Agreement which are capable of applying to the Covenantor and which have not been performed at the date of this Deed to the intent and effect that the Covenantor shall be deemed with effect from the date hereof to be a party to the Agreement (as if named as a JV Party). 契约之授方确认，有人提供给他并且他已经读了协议的拷贝件，要跟进度表里指定的每个人立约，他会评述执行，以及在协议所有条款的限制下，他还能申请契约之授方，在这个行动的那一日并没有执行，实现了契约之授方从成为协约当事人而被认为的那个效果。

2 [This Deed shall be governed by and construed in accordance with English law and the Covenantor hereby submits irrevocably to the non-exclusive jurisdiction of the English Courts (but accepts that this Deed may be enforced in any court of competent jurisdiction) and hereby appoints [a person resident in England and reasonably acceptable to the JV Committee] as its agent for service of all process in any proceedings in respect of the Agreement.] 依照英国法，这个契约将被管理和解析，这里契约之授方递交无法撤回地英国法院区非专属管辖（但是接受这个契约，在胜任权限的任何法庭都是强迫的），因此指定（一个居住在英国和适当接受委员会）的一个人作为服务的一个代理。

EXECUTED as a deed on the date written above.以上书写的日期所执行的行为 Schedule 进度

[Parties to Agreement including those who have executed earlier Deeds of Adherence] 包括执行了早期行为的当事人所做的协议 Schedule 4 进度4

Part 1 - CRC Parties Warranties 第一部分—CRC当事人担保

1 Each CRC Party is a company duly incorporated, validly subsisting and in good standing under the laws of its incorporation;

每个CRC方是个适时合成的，正当存在地，它的合成在法律下有很好名望一个公司。

2 The corporate holding structure pursuant to which it holds the Hinoba-an Interest is accurately and completely as described in Schedule 1 and the Recitals above;

依照他所持的Hinoba-an 利润，公司控股结构正确而完全地在进度1和上面的独述中有描述。 3 Except as described in the Recitals above, there are no outstanding options, warrants, rights (including conversion or preemptive rights) or agreements for the purchase or acquisition in or from any of the CRC Parties of any shares or any securities convertible into or ultimately exchangeable or exercisable for any shares. No shares of any of the CRC Parties are subject to any rights of first refusal or other rights to purchase such shares;

除了上面独述中描述的，没有突出的选择权，担保，权利（包括转变或者先买权）或者为了购买所产生的协议或者CRC方以任何形式而获得的针对其他股可交换和操作的股权或者其他有价证券。CRC当事人没有一个股会服从于首次拒绝的任何权利或者其他购买这种股的权利。

4 (a) True, correct and complete copies of the Financial Statements (as defined below), of each of the CRC Parties, together with the related auditors’ reports, have been provided to Glencore and Nanjing Mining. The Financial Statements have been prepared from, and are in accordance with, the books and records of each of the companies, comply in all material respects with applicable accounting requirements, have been prepared in accordance with applicable generally accepted accounting principles applied on a consistent basis during the period involved (except as may be stated in the notes thereto) and fairly present the financial position and the results of operations and cash flows (and changes in financial position, if any) of the companies as of the times and for the periods referred to therein;

财务统计真实，正确和完整的拷贝件（正如以下所定义的），每个CRC当事人，以及相关核数师的报告，都提供给了Glencore公司和南京矿业。财务统计已经有所准备，跟每个公司的帐本，纪录所一致，用适用的会计学方法，顺从所有的资料情况，已经准备出来了。公正地代表了公司某个阶段某个时期的财政位置，操作和现金流的结果。

“Financial Statements” shall mean the balance sheet of the company, as applicable, together with statements of income, shareholders’ equity and cash flows, for the year ending 31 December 2006, whose reports thereon are included therein;

“财务报表”指2006年12月31日年底公司资产负债表，连同收益表，股东资产净值，现金流，上面的这些报告在那里都有包括；

(b) Since the date of the Financial Statements, there has been no material change in the manner of keeping books, accounts, records or in the accounting practice reflected therein;

自从财务报表出现那天起，所拥有的帐本，账目纪录或者早会计实践中反映的那些；

(c) None of the CRC Parties has any outstanding liabilities or claims (including contingent liabilities) of such nature as would have a material adverse effect on it, except for those liabilities disclosed in the Financial Statements;

CRC当事人没有一个有突出的债务或者索赔（包括可能发生的负债），会有一个反作用在上面，除了那些财务报表中透露的那些负债；

5 The minutes books of the CRC Parties contain a complete summary of all meetings of their respective directors and shareholders since the time of incorporation and all transactions referred to in such minutes are accurately described in all material respects;

CRC当时人仔细而准确的账本包含了他们各自主管，股东的全部会议的摘要，自从合并那时候起，所有的交易指被正确描述的备忘录；

6 (a) All returns, reports and declarations of every nature (“Returns”) required to be filed with

respect to any tax for any taxable period ending on or before Closing Date by or on behalf of all CRC Parties have been timely filed, and such Returns as so filed are complete and accurate and disclose all taxes required to be paid for the periods covered thereby, except for any such failures to file and such errors which would not have a material adverse effect. Each CRC Party incorporated in the Philippines has timely paid or made provision for all taxes for such taxable periods covered by the Returns and is not delinquent in the payment of any tax;

每个回报（返还）的所有返还，报告和宣布，这些需要被归档案的， 关于任何税金为了任何应征税期间的结尾或者决算日之前或者代表所归档的所有CRC当事人，这样的回报是完整，正确的，其揭露了在那一时期应被付的所有税金，除了这样的疏忽，这样的错误不会有反作用。每个在菲律宾组合的CRC当事人，在应征税时期及时支付或者为所有税金做预备，在回报和任何税金支付并无拖欠债务行为。

(b) No deficiency for any material amount of tax has been proposed, asserted or assessed in writing against any CRC Party incorporated in the Philippines;

宣称的或者以书面形式评定的被提议的任何实质性的税金没有缺乏，这反衬了菲律宾组成公司的CRC当事人；

(c) No CRC Party has been or is the subject of an investigation, discovery or access order by or involving any taxing authority, and there are no circumstances existing which make it reasonably likely that an investigation, discovery or order will be made;

没有哪个CRC当事人曾经是或者现在还受制于税收权威的一个调查，发现或者存取顺序，这样的情况已经不存在了，即一个调查，发现或者存取顺序被这样做出；

7 Each CRC Party has full power and authority to carry on its respective business and it has full power and authority to enter into this Agreement and any agreement or instrument referred to in or contemplated by this Agreement;

每个CRC方有足够的能量和权威来开展他各自的生意，它也有足够的能量和权威达成这个协议，或者这个协议所预期的其他协议或者手段；

8 The execution, delivery and performance of this Agreement, and the consummation of the transactions herein contemplated will not conflict with, accelerate the performance required by or result in the breach of (i) the charter documents of any CRC Party; (ii) any judgment, order or decree of any court to which it is a party or subject; or (iii) any agreement to which it is a party or by which it is currently bound;

这个协议的执行，下达和履行，这里预期的事务的完成都不会产生冲突，而是加速了执行，或者导致了违背(i)任何CRC方的宪章资料；(ii)任何法庭的任何判断，命令或者法令；或者(iii)任何协议

9 This Agreement, when executed and delivered, will constitute a valid and legally binding obligation of each CRC Party, enforceable in accordance with its terms;

这个协议，当执行或下达时，每个CRC当事人会组成一个有效的，合法的捆绑义务，根据其条件是可实施的；

10 No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with any court, governmental agency, regulatory authority or political subdivision thereof, or any other entity, is required in connection with the execution, delivery and performance of this Agreement except for (a) xxx, and (b) xxx;

没有统一，赞成的命令，授权，或者登记，限制，选派，宣布，或者法庭的归档，政府代理，调整权威或者行政部分，或者其他的实体，都必须跟协议的执行，下达和履行，除了(a) xxx, 和 (b) xxx

11 Except for (a) xxx, and (b) xxx, no CRC Party has received, nor do they have knowledge of, any notice of any action, suit, proceeding, claim, arbitration or investigation threatened or pending against them, their activities, properties or assets which would have a material adverse effect on the financial condition, operations or business of the Hinoba-an Property. None of the CRC Parties has any knowledge or belief that there is pending or threatened any claim or litigation against it contesting its right to the Hinoba-an Property

除了(a) xxx, 和 (b) xxx， CRC方没有接收到，也没有认识任何行为，相配，进行，索赔，仲裁或者调查研究的任何通知。他们的活跃性，道具或者资产，会对财务条件，操作和Hinoba-an 物产产生物理相反作用。没有一个CRC成员认识或者相信，对任何的索赔或者背于它争论其Hinoba-an 资产的权利有个威胁性的索赔或者诉讼。

12 CRC Party legally and beneficially holds without Encumbrance the Hinoba-an Interest in the Colet Claims over the Hinoba-an Property, being an undivided 92.5 per cent. right, title and interest in the Hinoba-an Property through the Intermediary Holding Companies and Selenga, subject to the three per cent. Net Benefits Royalty payable to Colet as the tenement holder, subject to a provision that the Net Benefits Royalty can be extinguished in exchange for payments totalling US$7million, comprised of US$4.4 million in cash and US$2.6 million in common shares of CRC;

有没有累赘的情况下，CRC当事人合法获利地握有针对Hinoba-an 资产的Colet索赔中的利益，是一个未分开的92.5%的正确的资格和通过媒介控股公司和Selenga 的Hinoba-an 产权中的利益。应支付给Colet的净利润，就像佃户一样，服从这样的规定，即净利润可以被以交换的方式清偿，总共7百万美金的支付，包括了4,4百万的现金，剩下的2,6百万美金就是通常所持的CRC股。

13 The Hinoba-an Property is in good standing under the laws of the Republic of the Philippines; Hinoba-an 资产是在菲律宾共和国法律下的具有很好名望的实体。

14 CRC has not entered into any joint venture agreement, royalty arrangement or sale agreement, nor has it granted any Encumbrance with respect to its interest in Selenga, the Intermediary Holding Companies, the Colet Claims or in the Hinoba-an Property, nor has it made any other commitment that would be inconsistent with its obligations hereunder;

CRC并没有达成任何合资协议，或者交易协议，也没有承认任何有关在Selenga中的利益的任何阻碍，媒介控股公司，或者Hinoba-an资产中的 Colet索赔，也没有做任何其他的在此之下跟它的指责不一致的委托事项。

15 To the best of CRC’s knowledge, it is not aware of any cleanup order, allegation of breach or default or other claim that the environmental or rehabilitation obligations and duties in respect of the Hinoba-an Property have not been properly discharged;

对于最好的CRC知识，并不明了任何清除的命令，违背的辩解，渎职或者其他对于环境或者相关于Hinoba-an 资产的职责和关税并没有恰当地履行。

16 The combination of the Integrated Mining and Operating Agreement and the Colet Claims permit the implementation of the Project;

综合矿业，经营合同和Colet索赔的结合准许这个项目的执行。

17 The HHPI shares to be issued to Glencore and Nanjing Mining upon Closing will be duly authorised and validly allotted and issued.

HHPI股权下发给Glencore和南京矿业，股权的终止也应该是被授权和有效分派的。

Schedule 4 进度4

Part 2 - Glencore and Nanjing Mining Warranties 第二部分 Glencore 公司和南京矿业担保

1 It has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to in or contemplated by this Agreement; and

它有充分的能力和权威来执行它的交易并达成这个协议和其他这些协议所预期的协议或者手段；

3 the execution, delivery and performance of this Agreement, and the consummation of the transactions herein contemplated will not conflict with, accelerate the performance required by or result in the breach of any agreement to which it is a party or by which it is currently bound. 这个协议的执行，下达和履行，以及这里预期的事务的圆满成功不会产生冲突，加速其履行或因违背协议而产生的结果，这是个当事人的一个协议或者普遍绑定的当事人的一个协议。

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