The China Metallurgical Group Corp., Jiangxi Copper Corporation, and Zijin Mining Group Company recently won a joint bid to develop the Aynak mine, the largest copper mine in Afghanistan, according to the Afghanistan Ministry of Mines and Industries. Reliable resources revealed that the project, possibly worth up to US$2.87 billion, would kick off six months later.
As one of the world's largest copper mines, the Aynak mine has a prospective reserve of 690 million tons of cooper ores. With 1.65 percent copper content, these ores are expected to produce 11.33 million tons of copper, or more than one third of the total copper reserve in China, which stands at some 30 million tons. Some geologists predicted the Aynak copper mine was probably the largest copper mine in the world.
With a huge domestic demand, China is now the world's largest copper consumer. Last year, copper consumption in China totaled four million tons, or 22 percent of the world’s whole supply. However, the country is suffering from a deficiency of copper resources. Currently, more than two thirds of the copper consumed in the country is from overseas markets.
For more details, please read the full story in Chinese (http://www.dfdaily.com/node2/node27/node120/userobject1ai40713.shtml).
(China.org.cn November 22, 2007)
