Speaking on the sidelines of the National People's Congress, he said the company was gathering information about possible mine purchases in Zambia and Congo, among other African targets.

"Africa has a lot of potential. I'm very positive about exploring mining resources there. The strategy is to look for high-grade copper mines."

Li said he was bullish on copper prices in the first half of the year.

This year, copper concentrate supply will likely remain tight, but the market would find its balance, he said.