Jiangxi targets 25% increase in refined copper output
chinaknowledge.com
Apr. 20, 2007 (China Knowledge) – Jiangxi Copper <600362>, the Mainland's largest Hong Kong-listed producer of the metal, aims to generate 25% more refined copper this year as it expects global prices to remain relatively high.
Speaking during the earnings announcement, chairman Li Yihuang said that the newly expanded Guixi smelter has already started gradual expansion, with the company's refined copper output to grow to 550,000 tons.
The RMB 3.64 billion smelter, which will have an annual capacity of 300,000 tons of refined copper when it becomes fully operational by the end of the year, is expected to begin partial production by June.
On completion of the plant, Jiangxi Copper's capacity would reach 700,000 tons a year, said Li, who was promoted to chairman in January.
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