Stranagor
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(Yicai Global) Dec. 13 -- China Nonferrous Metal Industry’s Foreign Engineering and Construction will spend USD554 million to develop a copper smelter project in Indonesia’s Lesser Sunda Islands, the leading Chinese nonferrous metal miner said today.
The facility will be part of Indonesia’s second largest copper-gold mine Batu Hijau, owned by PT Amman Mineral International, Beijing-based Nonferrous Metal said. Located in Pulau Sumbawa, West Nusa Tenggara province, it should be able to process 900,000 tons of copper concentrate.
There will be an annual output of 220,000 tons of cathode copper, 178,000 tons of gold and 548,000 tons of silver, according to an earlier announcement on the Ministry of Foreign Affairs’ website.
Nonferrous Metal Industry’s stock price [SHE:000758] closed up 2.33 percent at CNY5.71 (USD0.90) today.
The facility will be part of Indonesia’s second largest copper-gold mine Batu Hijau, owned by PT Amman Mineral International, Beijing-based Nonferrous Metal said. Located in Pulau Sumbawa, West Nusa Tenggara province, it should be able to process 900,000 tons of copper concentrate.
There will be an annual output of 220,000 tons of cathode copper, 178,000 tons of gold and 548,000 tons of silver, according to an earlier announcement on the Ministry of Foreign Affairs’ website.
Nonferrous Metal Industry’s stock price [SHE:000758] closed up 2.33 percent at CNY5.71 (USD0.90) today.
