China Minmetals, Codelco to Invest in Copper Mines in Chile

Bloomberg.com

May 30 (Bloomberg) — China, the world’s largest consumer of copper, will sign an accord tomorrow to invest in mines in Chile to secure supplies of the metal for wires and cables to distribute power in the Asian country’s fast-growing economy.

China Minmetals Corp., the nation’s biggest state-owned metal trading company, will sign the agreement with Codelco, the world’s largest copper producer, to invest jointly in production of the metal, Miguel Poklepovic, a minister-counsellor at the Chilean embassy, said by telephone from Beijing. He declined to elaborate.