Metallurgical Corporation of China Limited
 | |
| Public | |
| Traded as |
SSE: 601618 SEHK: 1618 |
| 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 | ||
| |||
Metallurgical Corporation of China Limited is a listed company in Shanghai and Hong Kong Stock Exchange. It is a subsidiary of China Metallurgical Group Corporation (MCC). In the past Baosteel Group was a minority shareholder.
Saindak Copper-Gold Project (SCGP)
SCGP 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. Again the MCC won the bidding and started the commercial production of the SCGP. The starting date was 16-Oct-2002. MCC is running the project successfully since its start. The initial operational agreement between MCC and Government of Pakistan was for 10 years up to 15-Oct-2012. The agreement further extended for a period of 05 years i.e. up to 15-Oct-2017. MCC is running this project through its subsidiary MRDL (MCC Resources Development Company Pvt Limited) registered with Securities and Exchange Commission of Pakistan.[2]
Copper mining in Afghanistan
In 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.[3]
Nickel mining in Papua New Guinea
Ramu 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.[4]
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.[5][6]
References
- ↑ 2014 annual report (Chinese)
- ↑ Information inserted by an employee of MRDL in Pakistan
- ↑ Christian Neef, Spiegel.de No 52/2009
- ↑ http://www.ramunico.com/
- ↑ http://ramumine.wordpress.com/2010/03/20/landowners-get-temporary-injunction-to-stop-construction-work/
- ↑ http://www.miningweekly.com/article/court-injunction-halts-ramus-underwater-tailings-displacement-facility-2010-03-22
