(Adds company comments)
SHANGHAI, June 25 The chairman of Tongling
Nonferrous Metals, the country's second-largest
copper smelter, committed suicide due to work-related stress,
the company said on Wednesday, citing the results of a police
Wei Jianghong, who was also chief executive of the
state-owned firm, died on Tuesday morning after he jumped off a
building, Tongling said in a statement to the Shenzhen Stock
"Preliminary investigations by authorities, which included
surveillance videos on-site and interviews with relevant
personnel, suggests Wei Jianghong committed suicide due to
immense work-related stress and long-term insomnia," the company
said in a statement.
The statement gave no further details.
Shares of Shenzhen-listed Tongling, which produced 1.2
million tonnes of copper last year, closed down 4.4 percent at a
two-month low on Wednesday after news of Wei's death.
The state-run China Business News said Wei, 52, who was also
a delegate to the National People's Congress, jumped from a
hotel owned by the company in Tongling, a city in the eastern
province of Anhui.
Telephone calls to the copper smelting firm's spokesman
seeking further comment went unanswered.
Wei's death comes after a number of high-profile suspected
suicides of executives from large state-owned firms since
President Xi Jinping launched a campaign against graft last
Bai Zhongren, the former president of China Railway Group,
fell to his death in January, following a corruption probe into
the now-defunct railway ministry. The former chairman of Harbin
Pharmaceutical Group Sanjing Pharmaceutical Co., Liu
Zhanbin, died in a similar manner in May while being
investigated for corruption.
Beijing's anti-corruption campaign, which had focused on
energy giant PetroChina earlier this year, has begun to turn to
the mining sector and authorities are also investigating a
suspected metal financing fraud at Qingdao port, China's third
Mao Xiaobing, ex-chairman of Shanghai-listed Western Mining
Co Ltd and a senior official in Qinghai province,
has faced a corruption probe since April, while former mining
tycoon Liu Han, founder of the private Hanlong Group, was
sentenced to death last month over charges including graft.
Tongling said operations remained normal and its
vice-chairman, Yang Jun, would stand in as chairman.
The firm saw its 2013 net profit fall 38 percent from a year
before to 572.6 million yuan ($92.22 million) as a sluggish
global economy and tapering growth at home dampened demand and
pressured copper prices.
($1 = 6.2090 Chinese Yuan Renminbi)
(Reporting by Fayen Wong and Polly Yam; Editing by Ed Davies
and Pravin Char)