Mianyang Jin Xin Copper
Through our 75% beneficial interest in Mianyang Jin Xin Copper Company, Ltd. (Jin Xin), we are a leading producer of recycled copper products. Jin Xin manufactures copper cables, copper rods, copper wires and copper granules from recycled copper. Its recycled copper products are used primarily in the power wire and cable industries. Jin Xin operates a recycled copper products plant in Sichuan province with an annual production capacity of 50,000 tons of recycled copper. We source our raw materials from local scrapped copper collectors and sell our products to electrical cable manufacturers in China.
China now accounts for more than one third of global copper consumption and demand for copper continues to grow rapidly in line with the nation’s strong economic growth. To meet this growing demand, we plan to further expand Jin Xin’s production capacity and are exploring opportunities to acquire related businesses that will further solidify our position in the recycled copper products market.