Jiangxi Copper, the mainland's largest integrated copper producer, plans to buy mines and a futures trading firm from its state-owned parent to bolster faltering profits and increase its metal reserves. A source said the assets were worth between five billion yuan and 10 billion yuan and included copper, zinc and lead mines as well as a firm trading commodities futures. The company plans to sell A shares in the Shanghai market to finance the deal. Its board discussed the matter yesterday, but the timing of an announcement is not yet known. Trading in Jiangxi Copper's A and Hong Kong-listed H shares was suspended yesterday pending a statement on a proposed acquisition and A-share sale. Heng Kun, an analyst at Essence Securities, said Jiangxi Copper's purchase might include the Dongxiang mine with a copper reserve of 200,000 tonnes and the Yinshan mine with a reserve of 800,000 tonnes and substantial lead, zinc and gold reserves in its home province. The acquisition might increase the company's copper reserves by up to 8 per cent but would not have an immediate impact on its profit as production at the Dongxiang mine had slowed during reconstruction work, Mr Heng said. The output of Yinshan mine was relatively small with 2,500 tonnes of copper, 2,500 tonnes of zinc and 2,000 tonnes of lead in 2006, he said. Jiangxi Copper might also buy 90 per cent of Shenzhen-based Jinrui Futures, one of the mainland's top five futures companies, analysts said. The cash portion of the deal was expected to be less than one billion yuan, Mr Heng said. 'Jiangxi Copper is speeding up its acquisitions under the new management and we expect that its total copper reserves could increase 30 to 50 per cent over the next three years,' he said. Jiangxi Copper has copper reserves of 9.67 million tonnes.