Jiangxi Copper buys Yantai smelter’s majority stake; China’s top copper smelters consolidate
Jiangxi Copper, one of China’s top copper producers, has purchased a majority stake in a facility in Yantai as part of a rare move of consolidation among state-owned copper smelters, according to an exchange filing on Thursday January 3.
The multi-year long discussion
between Jiangxi Copper and the operator of the Yantai Guorun smelter
has finally been concluded, with the former agreeing to buy a 65% equity share in its debt-ridden peer at 325 million yuan ($47.3 million), a regulatory statement to Hong Kong Exchanges & Clearing showed.
Upon completion, Jiangxi Copper will take the control of the...
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