www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Companies

Tongling, China Railway to invest $3b in Ecuador copper mine

(Agencies)
Updated: 2010-08-13 16:53
Large Medium Small

Tongling Nonferrous Metals Group Holdings Co and China Railway Construction Corp may invest as much as $3 billion in a copper project in Ecuador, as China seeks to control more commodity assets to feed its economy.

Production at the Corriente Copper Belt may start in 2013, Hu Guobin, vice-president of a venture set up by the two Chinese companies for the project, said in an interview. Annual copper in concentrate output would start at 30,000 tons and double a year later, he said.

Chinese companies spent more than $30 billion last year buying oilfields and mines as two decades of economic growth averaging 10.1 percent made China the world's biggest metal and energy consumer. Copper prices have doubled in the past five years, driven by demand in the third-largest economy.

"The investment will significantly lift Tongling's copper ore self-sufficiency and investors expect the assets to be injected into the listed unit later," Heng Kun, an analyst at Essence Securities, said by phone.

Tongling Nonferrous Metals Group Co rose 2.4 percent to close at 16.20 yuan at the 3 pm close in Shenzhen. China Railway rose 0.4 percent to HK$10.08 ($1.3) at the 4 pm close in Hong Kong.

Tongling, China's second-biggest copper producer, and China Railway Construction, the nation's biggest railroad builder, in December agreed to buy Canada's Corriente Resources Inc for C$679 million ($652 million) for the copper resources. The deal was completed and Corriente was delisted this month, according to a statement on Corriente's website.

Chinese Demand

"All the ore will be shipped back to China" to meet demand, said Hu, who was nominated to the venture from Anhui- based Tongling. The copper producer will take delivery of half the ore, he said.

Related readings:
Tongling, China Railway to invest $3b in Ecuador copper mine China's copper imports climb in July
Tongling, China Railway to invest $3b in Ecuador copper mine China's copper demand may expand 12%, Wanxiang says
Tongling, China Railway to invest $3b in Ecuador copper mine China Railway pays $60m for acquisition

Production in the long-term may reach 250,000 tons to 300,000 tons a year, Hu said. Tongling produced 44,000 tons of copper concentrate last year.

The rapid expansion of smelting capacity in China, the world's biggest producer and consumer of copper metal, has increased ore demand and spurred companies to invest overseas. Larger rival Jiangxi Copper Co invested in copper mines in Peru and Afghanistan, and Zijin Mining Group Co is seeking copper and cobalt assets in the Republic of Congo.

The Corriente Copper Belt covers 17 deposits in the four main mining regions of Mirador, Mirador Norte, Panantza and San Carlos, China Railway said in December. Copper resources are about 11.54 million tons, based on initial studies, it said.

Corriente was also involved in the exploration and development of gold, silver and molybdenum mines, according to the December statement.

主站蜘蛛池模板: 免费成年人在线观看视频 | 足恋玩丝袜脚视频免费网站 | 国产精品亚洲二区在线 | 亚洲性免费 | 一级做a爱片特黄在线观看 一级做a爱片特黄在线观看免费看 | 成人午夜在线 | 日本aaaa特级毛片 | 国产一区精品在线观看 | 欧美午夜视频一区二区 | 欧美国产合集在线视频 | 国产成人免费视频精品一区二区 | 免费视频男女 | 免费成年人在线观看视频 | 黄色成人在线观看 | 天海翼精品久久中文字幕 | 黄色a免费 | 国产欧美日韩精品一区二 | 曰韩一级| 日本亚洲高清 | 国产成a人亚洲精v品久久网 | 日本网址在线观看 | 亚洲欧美国产日韩天堂在线视 | 美国一级毛片片aa免 | 在线高清一级欧美精品 | 成人高清毛片a | 一级毛片美国aaj毛片 | 在线观看精品自拍视频 | 老司机成人免费精品视频 | 男女午夜 | 国产手机国产手机在线 | 亚洲精品在线网 | 国产韩国精品一区二区三区 | 日本b站一卡二卡乱码入口 日本s色大片在线观看 | 午夜在线亚洲男人午在线 | 精品久久久久久久久久久 | 91网站国产 | 一级特黄aaa大片在 一级特黄aaa大片在线观看 | 欧美精品亚洲一区二区在线播放 | 精品久久久久久影院免费 | 91免费网站在线看入口黄 | 成人男女啪啪免费观看网站 |