Metallurgical Corporation of China
Metallurgical Corporation of China Limited is a listed company in Shanghai and Hong Kong stock exchanges. It is a subsidiary of China Metallurgical Group Corporation (MCC). In the past Baosteel Group was a minority shareholder.[2]
Native name | 中国冶金科工股份有限公司 |
|---|---|
| Company type | Public |
| SSE: 601618 (A-shares) SEHK: 1618 (H-shares) | |
| Industry | Mining, Real Estate |
| Founded | 2008 |
| Headquarters | Beijing , China |
Area served | Worldwide |
Key people | Guo Wenqing (国文清) (Chairman) |
| Revenue |  CN¥215,785,772,000 (2014) |
| CN¥3,964,938,000 (2014) | |
| Total assets | CN¥325,978,479,000 (2014) |
| Total equity | CN¥47,337,257,000 (2014) |
| Owner | Central Government of China (indirect) General Public |
| Parent | China Metallurgical Group Corporation (64.18%)[1] |
| Website | www.mcc.com.cn |
| Metallurgical Corporation of China Limited | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国冶金科工股份有限公司 | ||||||
| Traditional Chinese | 中國冶金科工股份有限公司 | ||||||
| |||||||
History
editThis section needs expansion. You can help by adding to it. (September 2021) |
Operations
editMainland China
editThis section needs expansion. You can help by adding to it. (September 2021) |
Saindak Copper-Gold Project (SCGP) in Pakistan
editSCGP is a copper mining project owned by Government of Pakistan. The MCC Holding Hong Kong Corp. Ltd. and MCC Petroli Hong Kong Corp. Ltd. constructed the project under agreement with Government of Pakistan from 1990–1995 on turnkey basis. The project remained idle up to 2002, when Pakistan's government sought for foreign investors to provide funding for the project. The MCC won the bidding for a 10-year lease up to October 2012 and started the commercial production of the SCGP.[3] The agreement was further extended for a period of 5 years up to October 2017.[4] The agreement was again extended for another period of 5 years up to October 2022.
Copper mining in Afghanistan
editIn 2007, China Metallurgical Group Corporation won the bidding for the price of US Dollars 909 million. Presently it is moving ahead with a copper mining project in Aynak, Afghanistan. In December 2009 there were about 3000 Afghan workers and about 70 Chinese engineers on site.[5]
As of 2021, the project is not yet starting the construction phase.[6]
Nickel mining in Papua New Guinea
editRamu NiCo Management (MCC) Limited ('Ramu NiCo') is currently constructing a nickel mine in mountains above the Ramu River and processing plant on the Rai Coast of the Madang Province of Papua New Guinea. Ramu NiCo's web site says the company is 'sponsored by' China Metallurgical Group Corporation and that at US$1.4 billion its project is China's largest overseas mining investment. The company says the project has a total reserve of 140 million tons of nickel and will have a mine life of 40 years.[7]
The project has sparked controversy over its deep sea tailings disposal plan, previously approved by the PNG Department of Environment and Conservation, and blasting work to build the outlet was halted by an injunction in the National Court of Papua New Guinea on 19 March 2010.[8][unreliable source?][9]
References
edit- ^ 2014 annual report[permanent dead link] (in Chinese)
- ^ Reuters (2009-09-24). "Metallurgical Corp. of China Shares Fall on Hong Kong Listing". The New York Times. ISSN 0362-4331. Retrieved 2024-06-20.
{{cite news}}:|last=has generic name (help) - ^ "Saindak Copper-Gold Project: Govt moves to transfer ownership to Balochistan - The Express Tribune". The Express Tribune. 2013-10-27. Retrieved 2017-03-06.
- ^ "Balochistan likely to demand Saindak handover". The Nation. Retrieved 2017-03-06.
- ^ Christian Neef (2009). Spiegel. No. 52.
{{cite news}}: Missing or empty|title=(help) - ^ "Zhōngguó zhōngyě: Āfùhàn àinàkè tóngkuàng xiàngmù zànwèi shízhíxìng kāigōng jiànshè" 中国中冶：阿富汗艾娜克铜矿项目暂未实质性开工建设. eastmoney.com (in Chinese (China)). 20 August 2021. Retrieved 29 September 2021.
- ^ "Home". ramunico.com.
- ^ "Landowners get temporary injunction to stop construction work". 20 March 2010.
- ^ Swanepoel, Esmarie (22 March 2010). "Court injunction halts Ramu's underwater tailings displacement facility". Archived from the original on 2016-03-04.