Zong Xing Heng He Holdings Limited ( a subsidiary of the company), Tong Guan Resources Holdings Limited(a wholly owned subsidiary of Tongling Nonferrous Metals Group Holdings Co., Ltd., a PRC State-owned enterprise and the market leader in cathode copper production in PRC in 2006) and Catania Copper (chile) Limited entered into the Joint Venture Agreement for the establishment of the Joint Venture which will carry on business of processing copper ores in Chile.
According to the information in the public domain, Tongling, established in 1952, is principally engaged in copper mining, mineral processing, smelting and refining and copper products processing, and also involves in trade, scientific research and design, machine building, construction and installation and shaft and drift construction. Tongling is one of PRC top 500 enterprises. In 2006, its sales revenue reached RMB33,67b(approx. US$4.5b) and the output of cathode copper hit 544,800 tonnes, representing the market leader in PRC and eighth place among the large copper refineries of the world. One of Tongling’s subsidiaries, namely Tongling Nonferrous Metals Group Co., Ltd., is listed on the Shenzhen Stock Exchange (stock code: 000630). |
