Sabah – China’s largest copper producer Jiangxi Copper Corporation (JCC) is buying a 50 percent stake in Turkish mining company Nesko Metal, according to Chinese news sources.
The Chinese will reportedly pay USD 65 million for half of Istanbul-based Nesko Metal. Nesko has a copper mining business in Albania under the name of Beralb SHA, producing 50,000 tons of concentrates per year. JCC is one of the leading copper producers in the world, also supplying gold, silver and other metals.
Possessing large deposits of minerals like copper, chromite, boron, and marble, Turkey’s mining exports exceeded USD 5 billion in 2013 with China, US, Iraq, Belgium and Italy being the top buyers.
There are over 650 foreign companies active in Turkey’s mining sector.