A reorganization plan for China Metallurgical Group Corporation (MCC) has been granted approval by the State Council of China, as announced by China’s State-owned Assets Supervision and Administration Commission (SASAC) on December 8.
Accordingly, MCC will be merged with China Minmetals Corporation (CMC), becoming the latter’s wholly-owned subsidiary. The reorganization has just begun and no specific restructuring timetable has yet been announced.
Founded in 1950, CMC is an international metals and mining corporation committed to providing high-quality services around the world. It is primarily engaged in exploration, mining, smelting, processing and trading of metals and minerals, and is also engaged in finance, real estate, and mining and metallurgical technology.