*** massive news for tyc ****

The following news item is massive news for TYC. It could lead to a substantial market rerating for TYC. Pakistan IS a place to invest in a copper and gold mine development in a big way.

"Jiangxi Copper Invests $120 Million in Copper Mine in Pakistan

April 12 (Bloomberg) -- Jiangxi Copper Co., China's largest producer of the metal, is spending $120 million on a copper and gold mine in Pakistan to secure more supplies of the metals, Chairman He Changming said.

The company made an initial investment for the first-phase of development of the Saindak copper mine, He said in a telephone interview yesterday. The company will secure 20,000 metric tons of copper and 2 tons of gold this year, He said.

A global shortage and rising demand from China, the world's biggest copper consumer, has pushed the price of the metal to record highs in Shanghai and London. Copper futures in Shanghai may average 30,000 yuan ($3,623) a ton this year, up from 27,500 yuan last year, He said.

``Cooperation for the second-phase will focus on technology, and we aim to double capacity and secure all the resources,'' He said. A feasibility study for the second-phase of the project has started and will be completed by the end of this year.

China Metallurgical Construction (Group) Corp. is partnering Jiangxi Copper in the project, He said.

Jiangxi Copper is also looking at developing a gold mine in Kyrgyzstan, where the company has secured an exploration license, He said. Projects in Myanmar and South Africa haven't progressed very far.

``The global fundamentals for copper supply and demand won't change in at least three years,'' He said. ``Futures prices in London and Shanghai will stay at a high level throughout this year.''

http://www.bloomberg.com/apps/news?pid=10000080&sid=aq3XnwqzcOgg&refer=asia