Copper firm sets 2b yuan bond target.

(From The Standard)

Byline: Gladys Tang

Jiangxi Copper, the mainland's largest copper producer, plans to raise as much as two billion yuan (HK$1.89 billion) by issuing five-year convertible bonds to fund a mine acquisition.

To secure long-term supply and maintain stable costs, Jiangxi Copper will buy Chengmenshan mine from its major shareholder Jiangxi Copper Corporation for about 378.2 million yuan and acquire the mining rights of Fujiawu copper mine for a further 881 million yuan.

``Only one-third of Jiangxi Copper's annual production size comes from its own mines so it'll definitely be positive for the company's development if it can …