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Tongling Nonferrous Metals Group is China's largest copper cathode producer, vertically integrated from mining and beneficiation through smelting, electrorefining, and downstream copper-foil/strip processing.
Group exposure score is 40 including 1 tracked subsidiary — standalone is 41.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 2 suppliers, 2 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Buys slag and anode copper from Tongling; same entity also sells Tongling zinc ingot/copper raw material as a supplier (separate row below).
Zinc ingot and copper raw material. Exceeded its RMB 500m board-approved related-party cap.
Buys silver ingots from Tongling — the only named counterparty found for the silver byproduct line.
Largest prepayment counterparty of the controlling shareholder (consolidating this company) at 31 Dec 2024: RMB 3,284,901,036.76, 34.33% of prepayments. Trader; the mine of origin is not named, so the corridor is open. Same note names MINERA ESCONDIDA LIMITADA (RMB 1,721.5m, recorded on the bhp dossier as CL>CN), IXM S.A. (RMB 1,673.3m), Transamine Trading (RMB 998.9m), Werco Trade (RMB 889.2m).
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
2 other tracked dossiers name this company as a counterparty in its own sourced disclosure — this platform never wrote these rows on this company's own page, they are read here inverted from the dossier that disclosed them. This is a partial view: 982 additional named-counterparty rows across the corpus could not be matched to a tracked dossier by name at all (mostly non-Latin legal names), so the true count is higher than what renders here.
Buyer-side audited note, prepayments (预付款项) section (3), top-5 prepayment counterparties at 31 Dec 2024: GLENCORE INTERNATIONAL AG RMB 3,284.9m (34.33%), MINERA ESCONDIDA LIMITADA RMB 1,721.5m (17.99%), IXM S.A. RMB 1,673.3m (17.49%), Transamine RMB 998.9m, Werco Trade RMB 889.2m. Minera Escondida Limitada is the Escondida mine operator (Antofagasta Region, Chile; BHP 57.5% and operator), whose only products are copper concentrate and cathode, so the prepayment is for Chilean copper raw material. The buyer consolidates Tongling Nonferrous (000630), whose copper smelters are in Anhui and Chifeng, China. Caveat: a prepayment balance evidences a live purchase relationship, not a delivered tonnage; the holding company also runs a trading arm, so part of the volume may be traded on.
Also tracked in this corpus as tongling-nonferrous-metals — a peer Chinese copper smelter supplying feedstock/cathode into JCC rather than the reverse.
Scope. This section is inverted evidence: each linked dossier wrote the original row about itself, describing its own relationship to this company. It is never a claim this company itself disclosed. Absence here is not evidence of no relationship — most of the corpus has no named-counterparty block at all yet.
This company sits on the supply side for 3 of its 3 materials — a restriction on those is a tailwind, not a headwind.
As a producer, policy pressure across its produced materials is flat.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.