Jiangxi Copper plans to buy a controlling stake in major copper, silver and lead smelter Yantai Humon Group, the Chinese copper giant said in a filing to the Shanghai Stock Exchange (SSE) on Monday March 4.
If finalized, the purchase will see Jiangxi Copper regain its top position as the Chinese largest copper producer in terms of capacity - approximately 1.73 million tonnes of annual copper capacity - surpassing the 1.35 million tonnes capacity of Tongling Nonferrous as well as Yunnan Copper's 1.3 million tonnes, according to Fastmarkets calculations. Jiangxi's surprising acquisition notice comes just two...