Guangdong Qingyuan Nonferrous Metals to Complete 1st Phase of Copper Project in October 2010

SHANGHAI, July 13 (SMM) - Guangdong Qingyuan Nonferrous Metals Company is scheduled to complete construction of the 1st phase of its 100kt/yr refined copper project sometime in October 2010.
 
Guangdong Qingyuan, founded in June 2007, is the largest investment project of Yunnan Copper outside of Yunnan province. The 1st phase of the project is located in Huaqing Recycling Resources Industrial Park, Shijiao Town, Qingcheng District, Qingyuan City.

Since scrap copper supply to be used in the new project is currently in shortage, the company will source crude copper from Zambia-based mines during the initial stages of the project.

One Zambia-based copper smelter owned by Yunnan Copper has an annual crude copper capacity of 200 kt, and an actual annual output of about 150 kt. After the 1st phase of the Guangdong Qingyuan project comes online, raw materials will be readily available from another mine in Peru with an annual crude copper capacity of 200kt, and from 100 kt of scrap copper recycled from Qingyuan.

The company believes it will take 3-5 years to achieve the target capacity of 500kt/yr, and reach sales revenues of RMB 30 billion.

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