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Minmetals eyes overseas expansion

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-02-12 15:50

China Minmetals Corp, the country's largest metal trader would pursue the overseas mergers and acquisitions route this year to shore up growth, its president Zhou Zhongshu said on Thursday.

Zhou said the company would look at acquiring ferrous and nonferrous metal mines to take advantage of the opportunities from the global financial crisis.

The company's sales revenue rose 28 percent year-on-year to $27.7 billion in 2008 while profit remained flat at 7.1 billion yuan ($1.04 billion).