CTGPC (China Three Gorges Project Corporation) will cooperate with Hubei provincial government in developing nonferrous metals in this Central China's province.

     CTGPC promised an incipient investment of 1 billion yuan in buying a stake in Hubei's Daye Nonferrous Metals Company (DNMC), making it a listed company in two years.

     According to a cooperative agreement signed by the two sides, the investment will be provided by a wholly owned subsidiary of China Yangtze Power Co., Ltd., one of CTGPC's holding companies. The fund will mainly be used on mineral resources integration, advancing the resource storage and self supply rate of the company.

     The provincial government consented to integrate the nonferrous metals enterprises within Hubei, admitted DNMC's priority in developing local nonferrous metals resources, and promised to provide policy support in such fields as non-gratuitous acquirement of the rights of prospecting and mining, land grant, and tax preference.