China’s fifth-biggest copper smelter to double refined production to 500 000

The diversification strategy includes plans to expand into international mining to secure access to minerals including copper, cobalt and nickel, as well as lithium.

Over two-thirds of today’s junior miners are essentially worthless, says resource speculator Rick Rule. 

The metals and energy major plans to ramp up copper production from the mines to 300,000 tons a year and cobalt output to 6,000 tons.

Production has so far been stable thanks to co-operation between the mining industry and the government.