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Trafigura to Buy 30% Interest in Jinchuan's Copper Smelter in Fangchenggang, China

iconFeb 21, 2014 10:27
Source:SMM
Trafigura Pte Ltd., together with Trafigura Investment (China) Co., signed an agreement to buy a 30% stake in Jinchuan Group Ltd.'s copper smelter in Fangchenggang, China’s Guangxi region.

SHANGHAI, Feb. 21 (SMM) – Trafigura Pte Ltd., together with Trafigura Investment (China) Co., signed an agreement to buy a 30% stake in Jinchuan Group Ltd.'s copper smelter in Fangchenggang, China’s Guangxi region.

The agreement is the first major co-investment between a domestic Chinese smelting business and an international trading firm, Simon Collins, Trafigura’s Head of Non-Ferrous and Bulk, said in a press release today.

“As one of the world’s largest trading companies in non-ferrous metals we will bring our long-term relationships with producers, reliability and commercial experience to this partnership,’’ he said. 

The agreement, which is subject to regulatory approval, includes a multi-year supply and off-take arrangement corresponding to Trafigura's shareholding percentage for the 400,000-tpy copper smelter in Fangchengang, which began production in October last year.

Financial details of the deal were not disclosed.
 

Trafigura Pte Ltd.
Trafigura Investment (China) Co.
Jinchuan Group Ltd.
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