CNMC Made Great Breakthroughs in Both Total Assets and Sales Revenue

Luo Tao, General Manager of China Nonferrous Metals Corporation (CNMC) indicated in a recent interview that, in 2011, CNMC’s business indicators grew robustly, with both of the total assets and sales revenue exceeding RMB 100 billion for the first time.

Luo noted that, compared with the initial stage of the 11th Five-Year Plan period, CNMC’s total assets, sales revenue and total profit went up by 15 times, 20 times and 10 times respectively.

Luo said frankly that the global economy was full of uncertainties and prices of nonferrous metals plummeted in 2011, which was the most complicated year of the business environment of CNMC. However, through active promotion of domestic merger & acquisition and capital operation, acceleration of independent innovation and expansion of overseas investment and project construction, etc., CNMC has made the best business achievements in the recent 29 years.

Starting from Chambishi Copper Smelter of Zambia (CNMC’s first overseas mine and the largest mine so far), CNMC now owns 14 overseas mines, 5 overseas smelting plants and 1 overseas economic & trade zone and boasts approximately 30million tons of heavy nonferrous metals resources in China’s neighboring countries, central and southern Africa, Australia and UK, and its products include 40-plus varieties of nonferrous metals and cover markets of 30-plus countries and regions.

In line with the goal set by CNMC, in 2012,CNMC will strive to become a member of the world’s top 500 enterprises and spare no effort to build a world-class mining group with international competitiveness.

As a large enterprise directly administered by the State-owned Assets Supervision and Administration Commission of the State Council,CNMC was founded in 1983, mainly engaging in nonferrous metals mineral resources development, construction projects as well as related trade and services, etc., and covering geological exploration, design, construction, mining,dressing, smelting, processing and trade, etc.