China Minmetals
From Wikipedia, the free encyclopedia
China Minmetals Corporation is Chinese metals and mineral trading company. It is state-controlled corporation existing under the laws of the People's Republic of China, is a diversified metals and mining company based in Beijing, China. China Minmetals is engaged in the production and trading of metals and minerals, including copper, aluminum, tungsten, tin, antimony, lead, zinc and nickel.
It is one of the largest metals and minerals trading companies in the world and the largest iron and steel trader in China. The company handles more than 12 million tons of steel products annually. It also trades iron, coke, coal, copper, zinc, and lead. In addition to the trade of metals, China Minmetals also trades in electrical products and operates subsidiaries that focus on real estate development, marine shipping, mining, and other investment activities.
Minmetals' sales network is worldwide. It operates more than 100 offices in China and more than 40 companies abroad. China Minmetals Corporation was founded in 1950.
Minmetals, parent of Hong Kong-listed Minmetals Resources Ltd (1208.HK) and Shanghai-listed Minmetals Development (600058.SS), is focusing its overseas expansion on Latin America and Africa to secure natural resources to supply a fast-growing Chinese economy.
Minmetals was ranked No. 435 among the Fortune 500 companies in 2007, (see List of the largest companies of the People's Republic of China).
In 2006, China Minmetals had revenue of approximately US$4.84 billion. The turnover and profits of China Minmetals reached US$21.8 billion and RMB 6.8 billion in 2007. Its resource reserves include 604 million tons of iron ore, 250 million tons of coke and 410,000 tons of tungsten. It can supply annually 11 million tons of rolled steel, 4.1 million tons of coal, 800,000 tons of coke, 145,000 tons of electrolytic copper and 700,000 tons of alumina.
In the field of ferrous metal, China Minmetals remained the top steel trader of the nation and sped up the development of its upstream industrial chain. In the iron exploration in Anhui province, it has controlled 100 million tons of magnetite and 30 million tons of pyrite.
In the field of nonferrous metal, China Minmetals cooperated with Jiangxi Copper Corp to purchase 100% stake of Northern Peru Copper Corp (Canada), and set up joint venture with the U.S. Century Aluminum Corp in Jamaica to acquire the mining right for 150 million tons of bauxite. Its alumina project in Guangxi Province has annual output of 400,000 tons, which is the country's largest alumina project in both the scale and the investment.
[edit] Address
China Minmetals is located at:
5 Sanlihe Road, Haidian District Beijing, China 100044 +86-10-6849-5888 (Phone) +86-10-6833-5570 (Fax)
