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China's Communist Party ousts former Jiangxi Copper exec due to corruption

A former general manager of Jiangxi Copper Co. Ltd. was kicked out of China's Communist Party and public office due to corruption, Reuters reported Sept. 29, citing a statement from the Central Commission for Discipline Inspection, the country's top graft watchdog.

Wu Yugeng reportedly accepted gifts and bribes, spent public funds for personal use, and made other actions that the commission described as "seriously irresponsible" and an "abuse of power."

According to the newswire, Wu, 57, rose through the ranks to become general manager in January 2018, but abruptly left the company after six months.

Reuters could not reach Wu for comment, while Jiangxi Copper did not immediately respond to its request for comment.

In January, former Jiangxi Copper President and Chairman Li Yihuang was sentenced to 18 years in jail after being convicted of bribery and corruption.

Jiangxi Copper is in talks to purchase a minority stake in First Quantum Minerals Ltd.'s Zambian copper assets, which include the Kansanshi and Sentinel copper mines.