China Minmetals Hasn't Given Up on Buying Stake

China Minmetals Corp., the nation's biggest metals trading company, is pursuing a plan to buy a stake in a Codelco copper mine in the face of opposition from Chilean labor unions....... ``We are still in discussions,'' Jiao Jian, general manager of the copper division at the state-owned company, said today by phone from Beijing. ``Codelco's workers in general oppose any other countries buying a stake. There is a strong feeling of nationalism.'' Chilean unions have previously threatened to strike should Codelco, the world's largest copper producer, sell the stake in Gaby, the company's first new mine since 1998. Yesterday, the El Diario newspaper said China Minmetals may shelve its Gaby stake plan because of workers opposition..... Codelco in 2005 said Minmetals may buy as much as 49 percent of Gaby, which can produce 150,000 metric tons of copper a year. Chilean government-owned Codelco is seeking to develop projects with China outside of Chile, Chief Executive Officer Jose Pablo Arellano said on July 25.... ``As strategic partners, Codelco and Minmetals have many opportunities to develop projects outside of Chile,'' Jiao said. There is no specific project under discussion, he said..... ....www.cnmining.org., the nation's biggest metals trading company, is pursuing a plan to buy a stake in a Codelco copper mine in the face of opposition from Chilean labor unions....... China Minmetals Corp., the nation's biggest metals trading company, is pursuing a plan to buy a stake in a Codelco copper mine in the face of opposition from Chilean labor unions......... more news in china mining industy http://www.cnmining.org/news/?id=34