It is reported that Jinchuan Group, the largest nickel producer of China profited CNY 6.016 billion in 2007, at the same time it plans to take part in the overseas mineral resources project.

As per report Jinchuan Group’s directorate has unanimously agreed to participate in the overseas mineral resources project and make clear arrangements for some projects.

Mr Li Yongjun the board chairman of Jinchuan Group said that from a global view, Jinchuan Group is still not strong enough. The company is facing Canada, Russia, Australia etc large nickel production countries, they have high technology, strong financial resources, so Jinchuan Group must further enhance its competitiveness.

As China’s largest nickel and cobalt producer, Jinchuan Group has formed an annual output of 100,000 tonnes nickel, 400,000 tonnes copper, 10,000 tonnes cobalt, 3,500 kilograms platinum metals, 8 tonnes gold, 150 tonnes sliver, 50 tonnes selenium, 1.5 million tonnes inorganic chemical products. The nickel production increased by 12% in 2007, accounting for 90% of Chinese total nickel production.