Tuesday, December 29, 2009

China, Willing to Spend, Wins a Trove of Afghan Copper

Two years ago, the China Metallurgical Group Corporation, a Chinese state-owned conglomerate, bid $3.4 billion — $1 billion more than any of its competitors from Canada, Europe, Russia, the United States and Kazakhstan — for the rights to mine deposits near the village of Aynak. Over the next 25 years, it plans to extract about 11 million tons of copper — an amount equal to one-third of all the known copper reserves in China.

China, Willing to Spend, Wins a Trove of Afghan Copper
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