China's Hunan Nonferrous Metals (2626.HK: Quote) is considering borrowing 1.2 billion yuan ($176 million) in bank loans to build stocks of metals that are produced by its plants, a top executive said on Thursday.
The firm's general manager, Li Li, said the Hunan government would give 50 million yuan per year to subsidise interest for the bank loans.
We are studying such a plan and have not finalised details yet, Li told Reuters.
Hunan Nonferrous controls Zhuzhou Smelter (600961.SS: Quote), China's top zinc producer, and Hsikwangshan Twinkling Star, the top antimony smelter. (Reporting by Polly Yam, editing by Tom Miles and Ken Wills)
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