Big miners eye copper assets

BEIJING - Central State-owned miners will accelerate acquisition of copper assets this year to capitalize on the price rally as the government encourages mergers and acquisitions (M&A) to streamline the industry.

The nation's top two copper producers, Jiangxi Copper Corporation (JCC) and Anhui-based Tongling Nonferrous Metals Group Holdings Co Ltd, have received a series of M&A proposals recently.

Many central State-owned enterprises including China Minmetals Corporation and Aluminum Corporation of China Ltd (Chalco) have expressed interest in acquiring Tongling, said Wei Jianghong, the company's president.