China Railway Construction Corp. (CRCC) and Tongling Nonferrous Metals Group Holdings have completed a 4.27-billion-yuan ($626-million) acquisition of Canadian Corriente Resources Inc. in China's second-largest overseas copper mine takeover.

The two sides gained 96.9 percent of all Corriente shares on a fully diluted basis, through a 50-50 joint venture, CRCC-Tongguan Investment (Canada) Co., Tongling Nonferrous Metals Group said in a statement to the Shenzhen Stock Exchange.

The acquisition would give the firms mining rights to Corriente's main assets: 17 deposits in the copper belt in southeast Ecuador. Copper reserves in the four main mining regions total around 11.54 million tons, which could yield a cash flow of 150 billion yuan ($21.96 billion).