China's Western Mining has force majeure application accepted
Economic Times - A copper smelting arm of China's Western Mining has had its application for a force majeure certificate accepted after operations were affected by the coronavirus outbreak, an official from a regional trade body said on Tuesday.
Qinghai Copper, a wholly owned subsidiary of Western Mining in northwest China's Qinghai province, is one of three Qinghai firms so far to have a force majeure application approved by the China Council for the Promotion of International Trade (CCPIT), an official from council's Qinghai branch said.
The CCPIT had issued over 4,000 certificates to Chinese companies affected by the virus who are seeking to invoke force majeure - a clause which allows companies to suspend their obligation to fulfil contracts after unexpected events such as strikes and natural disasters.
It was not immediately clear which aspect of its business Qinghai Copper, which sources most of its concentrate supply from Western Mining's copper mine in Tibet, was looking to declare force majeure on.