Minmetals Resources, a subsidiary of China Minmetals, said in a statement to the Hong Kong Stock Exchange that the corporation has acquired more than 90 percent of Anvil Mining's shares at a price of eight Canadian dollars per share.

Andrew Michelmore, chief executive officer of Minmetals Resources, said the move is the group' first step in its global expansion, adding that the acquisition will help the group develop its overseas copper business.

Minmetals plans to purchase all of Anvil Mining's remaining shares via compulsory acquisition, as well as delist the company from both the Australian and Canadian stock markets, according to the company.

The acquisition will increase Minmetals' global copper and cobalt supplies and ease China's metal shortage, it said.

In 2011, Minmetals saw its profits soar more than 98 percent year-on-year to 12.77 billion yuan (2 billion U.S. dollars).