BEIJING - Gansu-based Baiyin Nonferrous Metals Corporation (BNMC), China's leading nonferrous metals producer, is planning a listing on the Shanghai stock exchange this year, in a bid to invest in overseas mining resources.

The company is preparing an IPO proposal, which is due to be submitted to the China Securities Regulatory Commission around June.

It has privately collected 3 billion yuan ($457 million) in capital from local mining companies in the Tibet autonomous region and Shaanxi and Gansu provinces in a pre-IPO share sale, Li Peixing, chairman of BNMC, told China Daily on the sidelines of the ongoing Chinese People's Political Consultative Conference meeting.

Li also disclosed that the company has signed agreements worth $400 to $500 million with two foreign companies, "one from Peru and the other from South Africa" on cooperative developments of copper, lead and zinc resources in those countries, and are waiting for approvals from the respective governments of those countries.

BNMC is the second-largest nonferrous metals producer in Gansu province. The company is also the fourth-largest lead and zinc producer and the seventh-largest copper producer nationally, with the total annual output volume of the three metals reaching 300,000 tons.

"We expect to strengthen our efforts in overseas expansion during the coming five years," said Li.

In 2010, the company's sales revenue was 15 billion yuan, and the figure is expected to rise to 60 billion yuan in 2015, Li said.