China Minmetals Corporation, founded in 1950, is a large sized group dealing worldwide in development, production, trading and operation for metals and minerals. It is also engaged in finance, real estate and logistics. In 1999, China Minmetals was listed among the 44 "key enterprises" with a great bearing on national security and economic lifeline under the direct jurisdiction of the Central Government. In 2007, the Group achieved a total business volume of US$21.8 billion with a profit of RMB7.1 billion yuan. In 2007, Minmetals was ranked Class A when the SASAC evaluated the performance of state-owned enterprises under the jurisdiction of the Central Government, and was ranked No.412 among the Fortune Global 500 for the second time.