Dowa Mining To Start Chinese Recycling Operations

Dowa Mining Co. plans to spend around 20 billion yen ($188 million) over the next five years to start a recycling and waste management operation in China. The company hopes to open its first recycling plant by the middle of the year.

The plant will collect gold from electronic waste.

Dowa's local subsidiary in the city of Suzhou will operate the new plant. An investment company run by the local Chinese government will hold a 10 percent stake in the Dowa unit.

Dowa will set up more recycling plants in Jiangsu and other regions while it prepares for a launch in China of other "environmental management" operations, such as waste management and contaminated soil treatment, the company said.

By expanding its recycling business in China and at home, Dowa aims to boost annual revenue from environmental management to about 100 billion yen ($941 million) in five years, it said. Dow Jones