China Nonferrous Metal Mining Group

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China Nonferrous Metal Mining (Group) Co., Ltd.
Native name
中国有色矿业集团公司
state-owned enterprise
Profit Decrease CN¥(2,909,054,927.54) (2015)
Total assets Increase CN¥125,535,440,783 (2015)
Total equity Increase CN¥14,184,711,742.52 (2015)
Owner Central Government of China
Parent State-owned Assets Supervision and Administration Commission of the State Council
Footnotes / references
in consolidated basis[1]

China Nonferrous Metal Mining (Group) Co., Ltd. (abb. CNMC, Chinese: 中国有色矿业集团公司) is a Chinese corporation involved with the mining of non-ferrous mineral resources.[2]

It is managed by the State-owned Assets Supervision and Administration Commission of the State Council.

The company was the parent company of four listed companies in China and in Hong Kong SAR, namely China Non-Ferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd., Ningxia Orient Tantalum Industry Co., Ltd., China Nonferrous Mining Corporation Limited and China Daye Non-Ferrous Metals Mining Limited.[3] It has mines in Zambia, Mongolia and Thailand, and a project in Laos.[2] It invests in copper, aluminum, zinc, nickel, tantalum, niobium, and beryllium.[2]

History[edit]

The company was founded in 1983 .,[2][4] mainly to carry out international engineering business. In 2005, with the approval of the state-owned assets supervision, the company changed their name to China Nonferrous Metal Mining.[5]

Leadership[edit]

Its President is Mr Luo Tao; its Vice-Presidents are called Qiao Zou and Jiang Hao.[4]

Company Developments[edit]

In 2013, the company signed a deal worth US$712 million to construct a steel factory in Iran, thereby defying the sanctions imposed on Tehran by the US and European Union at that time.[6]

As of January 2017, the company is also in talks with Gecamines, a state-owned company of Democratic Republic of Congo (DRC), over a copper mining joint venture.[7]

References[edit]

  1. ^ "中国有色矿业集团公司2015年年度报告" [China Nonferrous Metal Mining (Group) Co., Ltd. 2015 Annual Report] (in Chinese). archive of chinamoney.com.cn. 29 April 2016. Retrieved 7 May 2016. 
  2. ^ a b c d About CNMC
  3. ^ Description of the company
  4. ^ a b Bloomberg BusinessWeek
  5. ^ development of the company(中色发展历程)
  6. ^ "China to build steel plant in Iran". China Economic Review. January 17, 2013. 
  7. ^ Ford, Neil (16 January 2017). "DR Congo plots $700m mining sector investment". African Business. Retrieved 15 February 2017. 

External links[edit]