--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Chinese Women
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Trade & Foreign Investment

Hot Links
China Development Gateway
Chinese Embassies

Manufacturers, Exporters, Wholesalers - Global trade starts here.
Copper Plant to Expand

Jiangxi Copper Corporation, the largest integrated copper smelting and refining enterprise in China, announced it would invest 3.4 billion yuan (US$421 million) in an expansion project to almost double capacity, according to a company statement to the Shanghai Stock Exchange yesterday.

An investment of 2.2 billion yuan (US$272 million) will come from the company's own funds with the remaining investment coming from a bank loan.

The project is expected to be complete by the end of 2007. Following the expansion and technology improvements Guixi Smelter Plant, one of Jiangxi Copper's strongest plants and a State-backed key enterprise, will have an annual production capacity of 700,000 tons of commercial copper cathode, an increased capacity of 300,000 tons.

Guixi Smelter Plant is the first copper refinery in the country to adopt advanced technology from abroad with the use of equipment for copper refining techniques such as oxygen enrichment, double convection and double absorption technology.

The company, based in East China's Jiangxi Province, said the expansion project would aim to ease the tight domestic copper demand and to meet its profit targets.

China uses large amounts of copper to build power plants and other infrastructure projects to fuel its economic growth, which was up 9.5 percent in the first half this year.

According to statistics from the International Copper Association (ICA), the leading non-profit international organization promoting the usage of copper worldwide, China is now the largest copper consumer with supply falling short of demand.

ICA predicts that copper consumption in China will grow by 10 percent in 2006, from this year's 3.5 million tons to 3.8 million tons. When ICA entered China in 1995, the domestic copper consumption was 1.25 million tons.

After the demand boosted copper price, Jiangxi Copper's third-quarter sales revenue rose 34.19 percent and the net profit jumped 49.14 percent compared with the same period last year.

The company expects this year's total profit to be more than 50 percent higher than last year's 1.14 billion yuan (US$141 million), according to the company's report to the Shanghai Stock Exchange this quarter.

In light of the copper price rising daily, China's third largest copper producer Yunnan Copper Industry (Group) Co Ltd joined forces with Hong Kong-listed investment company Regent Pacific Group Ltd in November to invest 400 million yuan (US$49.45 million) in a copper mine.

And the State Reserves Bureau has sold about 47,500 tons of copper on the spot market in three auctions last month, in another attempt to cool the booming copper price.

The price of copper in the Shanghai Futures Exchange fluctuated between 34,880 yuan (US$4,317) and 38,950 yuan (US$4,821) per ton yesterday from 16,000 yuan (US$1,978) per ton in October of 2003 in China.

(China Daily December 6, 2005)

Shortage Fears Send Copper Higher
Copper Auctions in a Bid to Bring down Prices
Nation Likely to Raise Export Tariffs on Refined Copper
Fall in Nation's Copper Price 'Short-lived'
Rumors Lead to Copper Price Dip
Copper Prices Soar to Record Highs
1/3 of China's Copper Use Is from Recycled Waste
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 国语第一次处破女| 日韩欧美一及在线播放| 又黄又爽的视频免费看| 麻豆自创视频在线观看| 国产精品毛片va一区二区三区 | 男女午夜免费视频| 国产69精品久久久久777| 麻豆影视视频高清在线观看| 国产精品一区二区三| 97久久精品无码一区二区| 妺妺窝人体色WWW聚色窝仙踪 | 亚洲伦理一二三四| 激情久久av一区av二区av三区| 免费看美女被靠到爽| 美女被免网站在线视频| 日韩在线视频第一页| 午夜无码伦费影视在线观看| 豪妇荡乳1一5白玉兰免费下载 | 日本动态120秒免费| 二个人的视频www| 男女猛烈无遮挡午夜视频| 啊灬啊别停灬用力啊呻吟| www视频免费看| 巨胸流奶水视频www网站| 亚洲一区二区三区高清视频| 欧美老妇bbbwwbbww| 四虎国产精品免费视| 人人影院免费大片| 国产精品免费一区二区三区| 一本伊大人香蕉在线观看| 最近中文字幕视频高清| 亚洲另类自拍丝袜第五页| 欧美日韩亚洲一区二区三区| 亚洲激情视频图片| 污污视频免费看| 亚洲精品456在线播放| 狠狠综合久久av一区二区| 免费A级毛片在线播放不收费| 第272章推倒孕妇秦| 免费看曰批女人爽的视频网址| 精品久久久无码中文字幕|