Jiangxi Copper to Increase Smelting and Refining Operations

Reuters reported that the parent company of China’s Jiangxi Copper Company Ltd. signed a letter of intent to invest $1.25 billion in building smelting and refining operations in Zhejiang province.

As quoted in the market news:

The project, operated by Zhejiang Heding Copper, aims to build operations with a smelting capacity of 200,000 tonnes year and able to produce 370,000 tonnes of refined copper cathode.

The other partner is Fuchunjiang Smelting.

“We are going to invest in the project because we want to maintain market shares in China,” Pan said, adding that the operations would be located in one of China’s main copper consuming areas.

Click here to read the full Bloomberg article.