Yunnan Copper Co. Ltd. said Oct. 17 that it intends to set up a 50/50 joint venture in the Shanghai Free-Trade Zone with China Copper Co. Ltd., a wholly owned copper mining unit of Aluminum Corp. of China.
The companies will each inject 300 million Chinese yuan in capital to form a trading company. The business will focus on trading mineral and metal products, importing and exporting commodities, mining investment and providing consulting services.
Yunnan Copper said the board approved the planned venture.
As of Oct. 17, US$1 was equivalent to 6.93 Chinese yuan.