SUPPLY NEWS - China National Gold commissions copper smelter in Congo

Vivian Teovivian.teo@fastmarkets.comJoint News Editor - Asia

Singapore 13/10/2016 - China National Gold Group (CNCG) has commissioned a 20,000-tonne-per-year copper smelter in the Republic of the Congo, the company said.

The Chinese state-owned firm acquired the Soremi copper-lead-zinc project in December 2013 and started construction of mining and smelting operations there in April 2015.

This is the first metal mining and smelting project in the African nation, CNCG said in a statement on Wednesday, October 12.

CNCG's business is centred on mining and producing gold but it also produces silver, copper and molybdenum. Its copper production comes from its Jiama copper-gold mine in central Tibet and its gold output comes from both Jiama and its Changshanhao gold mine in Inner Mongolia.

China Gold International Resources Corp - CNCG's Hong Kong-listed arm - expects to produce 38.6 million pounds (17,509 tonnes) of copper and 235,000 oz of gold this year.

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