日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Top Biz News

State Grid, Quadra join hands

By Hou Qingyang and Wan Zhihong (China Daily)
Updated: 2010-03-10 09:03
Large Medium Small

State Grid, Quadra join hands

Workers inspecting copper plates at a mine in Antofagasta, Chile. China is expected to use 6 million tons of copper this year, up 7 percent from 2009. [Bloomberg News]


New 50-50 joint venture plans to develop copper mines in Chile

BEIJING - State-owned public utility, The State Grid Corporation of China (SGCC), plans to cooperate with Canadian miner Quadra Mining Ltd to jointly develop copper mines in Chile, to secure raw material supplies for electric cables and to expand its investment portfolio.

According to a statement issued by Quadra on Monday, State Grid International Development Ltd (SGID), a wholly owned subsidiary of SGCC, will form a 50-50 joint venture with Quadra to develop and operate Quadra's Sierra Gorda project, Franke Mine and other copper assets in Chile.

The Sierra Gorda project and Franke Mine are valued at $900 million in assets, said the Quadra statement.

As part of the agreement, SGID will also subscribe for 10.9 million Quadra shares, or a 9.9 percent stake in the company, at C$13.91 ($13.53) per share through the Canadian miner's private placement.

"It is SGCC's strategy to accelerate overseas business development and diversify its investment portfolio," said an SGCC executive who declined to be named.

The project funding will be made in accordance with the Sierra Gorda construction schedule and may spread over two years, said Paul Blythe, president and CEO of Quadra. "The feasibility study is now under way and due for completion in December 2010," he said.

"The strategic joint venture brings together a unique and powerful combination, with SGCC's financial capacity and position as a major end user of copper in China and Quadra's skills in acquiring, developing and operating copper producing assets," said Blythe.

Related readings:
State Grid, Quadra join hands China's power generation capacity up 10%
State Grid, Quadra join hands China demand to lift copper futures
State Grid, Quadra join hands China's State Grids '09 profits down
State Grid, Quadra join hands Grid operator planning to build mega power carrier

About 60 percent of copper is used in the power industry. However, Wei Jianghong chairman of the nation's second largest copper producer, Tongling Nonferrous Metal Group Co Ltd, said on the sideline of the ongoing National People's Congress (NPC): "Our sales to wire and cable users indicate that the demand is rather weak."

Wei said China, the world's largest copper consumer, is expected to use 6 million tons of copper in 2010, up 7 percent from 2009, but lower than earlier expectations of a 14 percent year-on-year growth.

Although the short-term demand from the electricity industry is weak, the long-term demand is still strong as China plans to upgrade its grid for transmission of new energies like solar and wind power and to improve efficiency.

Last week, Premier Wen Jiabao said in his work report to the NPC that China will actively develop new and renewable energies, and go ahead with the construction of smart grid.

In line with the national strategy, China's two grid operators, SGCC and China Southern Power Grid, have put smart grid construction on top of their agenda.

SGCC, the larger of China's two grid operators, said it would complete the construction of smart grid by 2020, entrenching its position as a major end user of copper, the raw material for electric cable.

As the commodity price rallies, both miners and end users like SGCC are seeking to pile up resource reserves, said Peng Bo, an analyst at Guosen Securities. Copper climbed new highs after an earthquake hit Chile, the world's largest copper producer. The prices adjusted down later on concern that China's demand may decline if the government retreats from its stimulus package.??

主站蜘蛛池模板: 亚洲午夜18毛片在线看 | 国产精品www | 啪啪网站免费 | 久久久久久91| 国产免费福利 | 精品一区二区三区视频 | 国产精品久久国产精品 | 欧洲三级在线 | 中文字幕高清av | 日韩三级高清 | 国产suv精品一区二区69 | 一区二区三区www | 午夜探花在线 | 色综合久久久 | 国产最新在线 | 伊人久久五月 | 午夜激情视频在线观看 | 狠狠干五月 | 天天躁日日躁狠狠躁av麻豆 | 日韩一区二区在线观看 | 在线香蕉视频 | 精品在线播放视频 | 国产精品二三区 | 欧美精品xxx | 亚洲精品视频久久 | 亚州三级| 欧美成人午夜免费视在线看片 | 婷婷五月情 | 超碰超碰97| 免费毛片播放 | 成人免费看片' | 国产精品免费久久久 | 中文在线字幕免费观 | 自拍偷拍在线视频 | 久久天堂精品 | 欧美精品1区 | 手机看片欧美 | 天天视频黄 | 99热这里只有精品5 日本全黄裸体片 | 国内精品视频一区 | av每日更新|