REFILE-China's Zijin in talks to buy gold, copper mines abroad

lunes 23 de marzo de 2015 04:10 GYT
 

(Corrects spelling of 'abroad' in headline)

HONG KONG, March 23 (Reuters) - China's Zijin Mining Group Co Ltd is in talks to buy gold and copper mining assets abroad and expects to finalise some acquisitions this year, its chairman said on Monday.

Chen Jinghe said that current market conditions were favourable for acquisitions but did not identify targets.

"Some (talks) have almost reached maturity...this year there will be some important results," Chen told a news conference in Hong Kong after the company's 2014 earnings.

Zijin was also likely to conclude development of its stalled copper mine project in Peru this year after facing opposition from the local community, Chen said.

The Rio Blanco copper project in northern Peru was struck by bouts of violence before and after it was bought in 2007 by Zijin.

The problems it has faced in the Peru project would not affect the company's appetite for new investment, Chen told Reuters after the news conference.

Zijin, China's leading gold producer and a medium-sized refined copper producer, expects global gold prices and copper prices to fluctuate around current levels this year as a strong U.S. dollar weighs on prices, Chen said.

Copper prices on the London Metal Exchange have fallen more than 3 percent so far this year to trade at $6,066 per tonne on Monday, after having dropped 14 percent in 2014.   Continuación...