China’s Zijin Mining Group said on Sunday it would pay 3.88-billion yuan ($548-million) to acquire a majority stake in a mining firm with rights to two copper deposits in Tibet.
Best known as a gold miner, Fujian-based Zijin will pay cash for the 50.1% stake in Tibet Julong Copper Co, operator of the Qulong mine, one of China’s biggest copper deposits, and the Zhibula mine.