Jiangxi Copper Co Ltd, China's largest integrated copper producer, said its board has approved a 268 mln yuan injection into its joint venture with US copper foil group Yates Foil to upgrade technology and expand capacity.
Annual foil capacity of the joint venture, in which Jiangxi Copper holds a 75 pct stake, will rise to 11,000 tons from the current 6,000 tons, the company said in a statement filed with the Shanghai Stock Exchange.
After the expansion, the venture is expected to generate annual sales of 408.71 mln yuan and operating profit of 62.25 mln yuan. (1 usd = 6.85 yuan)
