The net profit of China Minmetals Non-ferrous Co., Ltd (CMN), the country's larggest metals trader, tumbled 94.86 percent in the first half of the year from a year earlier to 87.07 million yuan (12.87 million U.S. dollars), said the company in its half-year report Friday.
OZ Minerals Ltd yesterday said CEO Andrew Michelmore will resign and join China Minmetals as part of the Chinese firm's purchase of most of the Australian miner.
China should establish a metal mining development fund to help Chinese firms raise capital for investment abroad, according to China Minmetals Corporation president Zhou Zhongshu.
China Minmetals Non-ferrous Metals Co Ltd, a subsidiary under the country's metal and mineral titan China Minmetals Corp (CMC), has bought HPTec, Germany's leading manufacturer of drills and cutters for an unspecified price, CMC told Xinhua on Tuesday.