Aluminum price soars as China cancels tax incentive on exports
The export tax rebate was also removed for copper and lowered for some refined oil, solar, battery and non-metallic mineral products.
Jiangxi Copper said on Wednesday chairman Long Ziping had stepped down at his legal retirement age and that general manager Zheng Gaoqing would take over the top position in the integrated copper producer.
Long, 60, had been chairman of China’s top copper producer for almost exactly three years.
He oversaw Jiangxi Copper’s takeover of Shandong Humon Smelting Co Ltd, which boosted its copper and gold output considerably, and its acquisition of a large stake in Canada-listed miner First Quantum Minerals Ltd.
Jiangxi Copper is currently the biggest shareholder in First Quantum, which operates copper mines in Panama and Zambia, at around 18%, Refinitiv Eikon data shows.
Zheng, aged 54, became general manager of the company in January 2019, having had no prior experience in nonferrous metals. He used to work at the local state assets regulator in Jiangxi province.
The company did not announce a successor as general manager in its filing to the Shanghai Stock Exchange.
(By Min Zhang and Ryan Woo; Editing by Jason Neely)
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