Sources from both companies have confirmed to Fastmarkets that applications were made, and they are optimistic about receiving approval.
“The applications have been filed,” a source close to the CSPT group said. “Both companies are being closely monitored by the group. It will probably take several months to a year for approval to be granted, and they will be official members after that.”
The group, under the leadership of Tongling Nonferrous in 2018-19, is the public face of the ambitious Chinese copper industry, which owns more than half of the world’s copper smelting capacity.
The expansion of the group comes with Chinese smelters...