Jul. 31, 2012 (China Knowledge) - Jiangxi
Copper Corp, the parent co of Jiangxi
Copper Co Ltd<600362
>, the largest copper producer in China in terms of output, said yesterday that it has signed an agreement with two smelters to jointly invest RMB 80 billion to build a smelting and refining project, sources reported.Jiangxi
Copper will team up with Fuchunjiang Smelter and Zhejiang
Heding Copper to build the project in East China's Zhejiang
The project, which is expected to start operation in the fourth quarter, will have an annual capacity of 200,000 metric tons of crude steel and 370,000 metric tons of refined copper cathode.
Spokesman Pan Qifang said that Jiangxi Copper has not decided its share in the project.
This year, Jiangxi Copper plans to run at full capacity and increase its output of refined copper cathode by 16% from 2011 to 1.09 million metric tons.