USEUROPEAFRICAASIA 中文双语Français
Home / Business

Mining giants join forces to create new industry behemoth

By Zhong Nan | China Daily | Updated: 2016-06-03 08:12

China Minmetals Co, one of the country's largest mining groups by asset value and overseas projects, merged with China Metallurgical Group Co on Thursday, creating a new conglomerate bigger than the asset value of any of the three global giant mining companies - BHP Billiton Ltd, Rio Tinto Group and Vale SA.

After the merger, China Metallurgical, the largest metallurgical engineering contractor and service provider in the country, will become a wholly owned subsidiary of China Minmetals. The company will no longer be directly administered by the State-owned Assets Supervision and Administration Commission of the State Council.

Before the merger, China Minmetals had overseas operations in 34 countries and regions.

Mining giants join forces to create new industry behemoth

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US