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4 Billion Yuan Copper Smelting Project Landed in Qiqihar, with 100,000 Tonnes Annual Output of Copper Cathode After Reaching Designed Capacity

In the morning of August 20, Heilongjiang Zijin Copper Project formally signed agreement at Fularji District in Qiqihar City. This also signals that the copper smelting project with a total investment of 4 billion yuan, a project under planning since 2011, has formally landed in Qiqihar City.

According to insiders, the copper smelting project represents important practice of the provincial government’s ‘Resource in exchange for industry’ strategy, meanwhile it is also a practical measure adopted by Qiqihar City in developing 12 key industries. The project is invested and constructed by Heilongjiang Zijin Copper Co., Ltd, with land area of 500,000 sqm, and total investment of about 4 billion yuan, in which fixed asset investment is about 1.8 billion yuan, working capital is about 2.2 billion yuan. After the project reaches designed capacity, each year it can manufacture 100,000 tonnes of copper cathode, with maximum capacity up to 150,000 tonnes, it is estimated to fulfill 5 to 7 billion yuan of output value, 300 to 500 million yuan of tax, it will become a big project for the rejuvenation of the district and even the city, and will also play crucial promotional role for Qiqihar City to extend copper industrial chain, and promote leap-forward development of the metal new material industry and city-wide economic and social condition.