Jinchuan Group Ltd., China's biggest nickel producer, is looking to buy stakes in overseas copper mines with resources greater than 1 million metric tons to increase its holdings to 20 million tons in five years.

"We have a number of projects under consideration right now," Chairman Yang Zhiqiang said in an interview while attending the National Peoples' Congress today in Beijing. "We will seek well-known global miners as partners" and are interested in off-take agreements as well, he said, without identifying targets.

The company is establishing offices in Canada, the Philippines and South Africa to help search for targets, Yang said. Any purchase will add to Jinchuan's acquisition last year of Vancouver-based Continental Minerals Corp. for C$432 million ($444 million) and its $140 million takeover of Toronto-based nickel producer Crowflight Minerals Inc.

Closely held Jinchuan, based in Gansu Province, is also aiming to complete the initial public offering of its cobalt unit in China this year, Yang said. In 2010, Jinchuan produced about 400,000 tons of copper, 130,000 tons of nickel and 6,000 tons of cobalt.

"China's demand for copper will remain robust in the coming five years due to urbanization and people's demand for cars and houses," Yang said.

The company is also seeking to boost its nickel resources to 5 million tons in five years, Yang said.