PTI News, via Make NewKerala, reports:

(PTI News) Beijing: China will tap the nation’s largest copper mine located in southwest China’s Tibet, the state media reported today from the remote Himalayan region.

Investors signed an agreement yesterday to set up the Yulong Copper Industry Joint-Stock Company for tapping the copper mine located in Yulong Township of Jomda County of Qamdo Prefecture.

The mine has 6.5 million tonnes of proved copper reserves, the country’s largest.

The joint venture has a registered capital of 625 million yuan (75 million US dollars) and is composed of five Chinese entities, including Qinghai West Mining Co., Ltd., Tibet Mining Development Corporation and Zijin Mining Group based in Fujian Province, Xinhua news agency reported.

The deputy director of the Tibet Development and Reform Commission, Jin Shixun said construction of the mine is scheduled to start at the end of September.

The mine is expected to go into operation within three years, Jin said. (Business World)

–(c) Press Trust of India