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Jiangxi Copper Co. and Metallurgical Corp of China (MCC) are monitoring the situation in Afghanistan to develop the Mes Aynak copper mine.
The company and MCC took out a 30-year lease for the mine in 2008, which has an estimated reserve of 11.08 million tonnes of copper. Jiangxi Copper holds a 25% stake in the project.
Jiangxi Copper chairman Zheng Gaoqing reported that due to the unstable situation in Afghanistan, the construction of the Mes Aynak copper mine is still stalled.
The Islamic Taliban took control of Afghanistan last month, ousting a US-backed government as US and other international forces withdrew after a 20-year mission.
Mes Aynak, about 40 km (25 miles) southeast of the capital, Kabul, is also the site of ancient Buddhist ruins and activists have called for their preservation.
Meanwhile, the Jiangxi-based company is also prioritising resource acquisition as its main strategy and would seek mines globally for investment opportunities.
Rising copper prices have brought direct benefits to the company’s minerals, Zheng said, adding that he expects high copper price levels given the optimistic outlook for solar power and new energy consumption.
Jiangxi Copper reported its biggest quarterly net profit for the April-June period in 10 years in August.
