UPDATE 1-Jiangxi Copper to buy assets from parent-source

HONG KONG | Tue Jan 15, 2008 9:18pm EST

HONG KONG Jan 16 (Reuters) - Jiangxi Copper Co Ltd (0358.HK) (600362.SS), China's top integrated copper producer, will buy assets including copper mines from its state-owned parent, a company source said on Wednesday.

Trading in shares of the company was suspended on Wednesday pending a statement on the acquisition, the source told Reuters.

Jiangxi Copper plans to buy copper mines in China and other assets from its parent, Jiangxi Copper Corporation, he added.

The parent has copper mines, copper product plants and it is considering buying lead and zinc mines in China's Jiangxi province.

No further details were immediately available.

Jiangxi Copper shares had fallen more than 33 percent in three months to close at HK$20.50 on Tuesday. (Reporting by Polly Yam and Alison Leung; Editing by Anne Marie Roantree)

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