Six state-owned non-ferrous metals companies in Guangxi, including Liuzhou China Tin, were formally merged into Guangxi Nonferrous Metals Group at the end of July. "Guangxi Nonferrous will specialize in the development of non-bauxite mineral resources, including tin, lead, zinc, antimony, indium and tungsten, as well as downstream smelting and processing of these metals," a Guangxi Nonferrous official told Interfax. “Guangxi Nonferrous is also looking to list its assets through two planned listed subsidiaries, but no detailed plans are available yet," he said.
Guangxi Nonferrous has registered capital of RMB 2.1 billion ($307.9 million), and aims to achieve annual sales revenue of RMB 30 billion ($4.4 billion) and pre-tax profits of RMB 4 billion ($586.47 million) in the next three to five years.
Liuzhou China Tin is China’s second largest integrated tin producer and also a major supplier of indium and zinc. The company produced 13,193 tonnes of refined tin in 2007, making it the seventh largest producer in the world. It also claims to control one third of China’s tin reserves.
