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Western Mining plans to build a 100,000-ton copper smelting project in Xining

Western Mining plans to build a 100,000-ton copper smelting project in Xining

  • Categories:Industry News
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  • Time of issue:2011-03-02
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(Summary description)Western Mining (601168.SH) announced on the evening of March 1 that in order to further expand the company's comprehensive industrial scale in the non-ferrous metal industry, the company plans to invest in a 100,000-ton copper smelting project in Xining, Qinghai Province.

Western Mining plans to build a 100,000-ton copper smelting project in Xining

(Summary description)Western Mining (601168.SH) announced on the evening of March 1 that in order to further expand the company's comprehensive industrial scale in the non-ferrous metal industry, the company plans to invest in a 100,000-ton copper smelting project in Xining, Qinghai Province.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2011-03-02
  • Views:0
Information

　　Western Mining (601168.SH) announced on the evening of March 1 that in order to further expand the company's comprehensive industrial scale in the non-ferrous metal industry, the company plans to invest in a 100,000-ton copper smelting project in Xining, Qinghai Province.

　　 The announcement shows that the estimated investment in the feasibility study of the project is 2.28 billion yuan (including the initial working capital and construction loan interest), the internal rate of return is 12.34%, and the total investment payback period is 8.58 years.

　　The company stated that the company will select a partner with advantages in technology or resources to jointly invest in the establishment of the project company to build the project, and the company will control the project company or become the largest shareholder.

　　 At the same time, according to the company’s intensive industry development strategy, it will orderly withdraw from industries and projects that are difficult to form core competitiveness. The wholly-owned subsidiary Qinghai West Mining Technology Co., Ltd. intends to sell its holdings in Yichang at a price of 355 million yuan. 60% equity of Chengxin Industry and Trade Co., Ltd. and 100% equity of Yichang West Chemical Co., Ltd. were transferred to Chen Fazhi, the existing natural person shareholder of Yichang Chengxin Industry and Trade Co., Ltd.

　　 The transfer prices of the above two parts of equity are 114 million yuan and 241 million yuan respectively.

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Previous: The Ministry of Land and Resources issued a total control index for the mining of tungsten, antimony and rare earth mines in 2011
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