State-owned Enterprises in China's Jiangxi Province Expand into International Mining Business

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Researched by Industrial Info Resources China (Beijing)--To solve the development bottleneck of mining-related enterprises in China's Jiangxi province, Jiangxi International Mining Company Limited (Nanchang, Jiangxi), a joint venture of seven state-owned enterprises in the Jiangxi province, was established in Nanchang, the capital city of Jiangxi on May 31, 2011, according to the State-Owned Assets Supervision and Administration Commission of Jiangxi Province.

As reported, the joint venture is under the control of Jiangxi International Economic and Technological Cooperation Corporation (JIETCC) (Nanchang), with the participation of six other leading state-owned enterprises, including Jiangxi Copper Group Corporation (Jiangxi Copper) (Guixi, Jiangxi), Jiangxi Rare Earth and Rare Metals Tungsten Group Corporation (Jiangxi Tungsten) (Nanchang), Jiangxi Provincial Coal Group Corporation (Nanchang), Jiangxi Nonferrous Metals Geological Investigation Bureau (Nanchang), China Nerin Engineering Company Limited (Nanchang), and Jiangxi Provincial State-owned Assets Operation (Holding) Company Limited (Nanchang). The main purpose of the joint venture is to conduct exploration and exploitation of overseas mineral resources.

Jiangxi is an important area for mineral resources in China and holds the leading position in the fine and deep processing of mineral resources in China. However, following years of exploitation, the province is experiencing minerals shortages, which has become the bottleneck in restricting the development of mining enterprises in Jiangxi.

With more than 20 years of experience in overseas development, particularly in Africa, JIETCC has acquired 14 mining exploration and exploitation rights overseas since 2010. Together with the experiences and outstanding advantages of the other shareholders in mining exploration, smelting, design and construction, the establishment of the joint venture marks the province entering into a new strategic development stage in promoting its capabilities in the allocation of global resources.

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