Jiangxi Copper looks abroad for metals

Jiangxi Copper boss Li Yuhuang announced that his company was looking for metal resources in South America and the Philippines as part of ongoing efforts to secure more supplies from outside China, the South China Morning Post reported. "To control more resources is one of the most important development strategies of Jiangxi Copper," said Li, who added that his company had allocated funds for acquisitions overseas. In November Jiangxi Copper, China’s largest producer of integrated copper, announced a joint copper mining project in Afghanistan with China Metallurgical Group worth US$3.8 billion, and recently finished a joint offer with China Minmetals Nonferrous Metals for Canada-based Northern Peru Copper worth US$457 million.