China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. (NFC) is set for more overseas mergers and acquisitions to expand its mineral reserve, according to Tuesday's reports.

The Beijing-based firm was boosting its presence in resource-rich countries including Canada and Australia through stake purchase to gain a bigger bargaining power, Wang Hongqian, NFC general manager was quoted as saying by the paper.

"We are cautious when taking steps to expand overseas, given the complicated investment environment in different nations like changing local policies and cultural gaps," Wang said.

Founded in 1983, the NFC has its presence in many foreign markets including the Middle East, Vietnam, Mongolia and Indonesia.