Jiangxi Copper invests in Albanian copper Mines
Jiangxi Copper, one of China’s biggest copper producers, will work jointly with two other Chinese businesses to take a 50% share of a Turkish company operating mines in Albania.
Jiangxi Copper will buy a 48% stake in Nesko Metal Sanayi ve Ticaret for $62.4 million, with two other companies investing $1.3 million each.
Nesko, part of Turkey’s Ekin Maden mining and metals group, runs Albania Beralb, which operates the Munella and Lakrosh copper mines as well as the Fushe Arrez flotation plant in Albania.
The Fushe Arraz plant can process 600,000 tpy of raw material and produce 50,000 tonnes of copper in concentrate, according to Ekin Maden’s website.
Jiangxi Copper owns two projects overseas, in Afghanistan and Peru.
Publish date : Friday 28 February 2014 21:18
Story Code: 4503