Minmetals to invest heavily in overseas mining project

摘要

China Minmetals Nonferrous Metals Co., Ltd is planning to increase investment in overseas mining projects in a bid to meet strong Chinese demand for nonferrous metals resources, an official of the company said on November 16. The company has joined hands with Codelco in developing copper resources in Chile. The investment of the project is USD2.0 billion, the largest overseas investment project of Minmetals. Now the company has selected Australia as the next potential investment area. The soaring copper price has attracted more and more mining companies to increase investment in exploration and exploitation of copper resources in Australia. Furthermore, Australia is rich in gold resources and it is the world's third biggest gold producer.