Jiangxi Copper (600362.SH) plans to spend 2.5 billion yuan on acquiring North Peru Copper Corp. and Afghanistan Aynak Copper, which are expected to add 14 million tons of copper reserves to Jiangxi Copper.

    The acquisition fund will come from Jiangxi Copper's latest issuing of warrants and convertible bonds totaling 13.6 billion yuan, announced the company.

    North Peru Copper has at least 3.3 million tons of copper resources and Aynak Copper has 11 million tons of reserves. If the acquisition plan is fulfilled, Jiangxi Copper's reserves would swell to more than 15 million tons from the current 9.12 million tons, accounting for half of China's total reserves.