Jiangxi Copper Builds Plant in Guangdong

Aug 19 (Reuters) –

Jiangxi Copper Co Ltd (0358.HK) (600362.SS), China's top copper producer, will build a 400,000-tonne per year copper product plant in Zengcheng city, Guangdong province, a media report said on Thursday.

An agreement was signed on Tuesday by city officials and Jiangxi Copper Executive Director Long Ziping with total investment set at 2 billion yuan ($294.6 million), the Nanfang Daily said.

Jiangxi Copper spokesman Kang Shuigen declined to comment on the report.

But Kang said Jiangxi Copper had planned to build a copper product plant with annual capacity of 300,000 to 400,000 tonnes and a total investment of around 300 million yuan.

Jiangxi Copper operates more than 500,000 tonnes of annual copper product capacity that uses refined copper as feed.

The company plans to produce 900,000 tonnes of refined copper this year, compared with 802,000 tonnes last year.