SINGAPORE, Feb 21 (Reuters) - Commodity trader Trafigura said on Friday that it is to buy a 30 pct stake in Jinchuan Group Co Ltd’s copper smelter in southern China.
Trafigura said the agreement, which is subject to regulatory approval, is the first major co-investment between a domestic Chinese smelting business and an international trading firm.
The smelter, which is in Fangchengang, Guangxi province, on China’s southern coast, began production late last year.
Financial terms of the deal were not disclosed. (Reporting by Rachel Armstrong; Editing by Richard Pullin)