Golden Dragon Precise Copper Tube Mexico Plant Approved by China NDRC

SHANGHAI, Jul.13 (CBI China) -- Golden Dragon Precise Copper Tube, China's largest copper tube maker, plans to invest USD 100 million to build a 120kt p.a. copper tube plant in Mexico, and the project has been approved by the National Development and Reform Commission (NDRC).  The first phase will be to construct a 60kt p.a. grooved copper tube plant, to be commissioned in late 2007 or early 2008.  The total investment of the first phase plant is USD 50 million.

    CBI research indicates that China is the net importer of copper concentrate and cathode copper.  Golden Dragon's decision to build a plant overseas is a good example for other domestic copper processors to follow in order to grab larger share in global market and help minimize the importation of copper concentrate and cathode copper to China.