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

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: www中文字幕在线观看 | 国产一区二区高清 | 成人片在线免费看 | 黄色一级视频 | 国产精品久久久久永久免费看 | 99热这里只有精品5 www.四虎com | 亚洲国产精品视频 | 色天堂视频 | 热久久最新网址 | 亚洲成人二区 | 日韩综合久久 | 欧美日韩一区视频 | 欧美视频一区在线观看 | 午夜视频在线免费观看 | 亚洲男人av | 欧美激情视频在线观看 | 久久久久一区二区三区四区 | 韩国av毛片 | 天堂网在线观看 | 日韩三级视频在线播放 | 永久看看免费大片 | 色久网 | 白天操夜夜操 | 国产aaa级片 | 中文字幕在线播放一区二区 | 日韩黄色网 | 欧美日韩在线视频免费播放 | 日韩精品一区二区三区在线 | 99热在线观看免费 | 欧美视频一区在线 | 久久人体视频 | 一级黄色a| 亚洲成人网页 | 国产精品69久久久久孕妇欧美 | 日韩有码在线视频 | 欧美一级片在线 | 亚洲欧美另类一区 | 精品国产18久久久久久 | 美女免费毛片 | 91麻豆精品视频 | 黄色a免费 |