Jiangxi Copper Industry is the largest comprehensive copper producer integrating mining, mineral processing, smelting, trade and technology in China. It has two largest mined open-pit copper mines in China, the largest copper smelter in China and one of the largest underground copper mines in China. Jiangxi's copper reserves account for about one third of the country's proven reserves; The content of metallic copper in self-produced copper concentrate accounts for about a quarter of the whole country; In 200 1 year, the output of cathode copper reached 220,000 tons, accounting for about 15% of the national total output. Cathode copper produced by Jiangxi Copper Industry is registered in London Metal Exchange and Shanghai Futures Exchange, and it is one of the main delivery brands in the futures market. Jiangxi copper industry has established a quality assurance system for cathode copper, sulfuric acid, electrolytic gold and electrolytic silver, and passed the ISO9002 international quality system certification.
Mr. Wu Bangguo, Vice Premier of China Government, inspected Jiangxi Copper Industry in April, 2000, and proposed that the government should help the strong and eliminate the bad, and support the expansion plan of Jiangxi Copper Industry. The foundation laying ceremony of the third phase expansion project of Guixi Smelter in Jiangxi Copper Industry was held on October 28th, 2000/KLOC-0, and it is expected to be completed and put into operation by the end of 2002. By then, the annual production capacity of cathode copper in Jiangxi Copper will be increased to 350,000 tons, ranking among the top copper mining enterprises in the world. Jiangxi Copper successfully issued A shares, and the funds raised were used to expand the third phase project of Guixi Smelter, acquire Wushan Copper Mine and develop Fujiawu Copper Mine.