SHANGHAI, Mar. 4 (SMM) - Yantai Penghui Copper Industry Co. was given official approval for relocation of its 180,000-tpy copper smelter by China’s Ministry of Environmental Protection (MEP) after environmental-impact assessment.
The project, with a total investment of 3.5 billion yuan ($571 million), is scheduled to start construction in the coming June, the State-owned Assets Supervision and Administration Commission (SASAC) said on its website on Monday.
Employing flash smelting and flash converting technology introduced from Jiangxi Copper Co., Yantai Penghui’s smelters is set to become the largest copper production base in north China, the SASAC said in the statement.
It is expected to generate an annual revenue of 28 billion yuan and trade value of $5 billion, as well as a yearly throughput of 3 million tonnes for Port of Yantai in Shandong province, it said.