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In China, commissioned plant for the extraction of molybdenum and tungsten

Company from China «Duchang Jinding Tungsten & Molybdenum Mining» commissioned recently unfinished complex for the extraction and processing of molybdenum and tungsten ores in Jiangxi Province, which is located in south-eastern China. The plant was built on the field «Yangchushan» (its construction began in 2011 and was completed a few days ago). According to preliminary calculations, the company will be able to supply the market incessantly concentrates metals mentioned above for 30 years. This power plant lines are designed for loading of 4.5 thousand. Tons of raw ore per day, which will allow the company to produce 900 tons of molybdenum and 2,650 tons of tungsten concentrates annually. Management plans later this month to begin commercial deliveries of raw materials to customers, but the company at full capacity is expected only in 2015.

In the depths of the deposit «Yangchushan», according to the geological survey, contains approximately 20 thousand. Tonnes of molybdenum and about 96 thousand. Tons of tungsten (in recalculation on pure metals). It is rarely found in soil elements, whose presence in the earth's crust is only about 0.001%. However, production of these resources (although the need for vast amounts of ore processing) remains low. These refractory metals are the most valuable alloying components in the production of super-hard, heat-resistant, heat-resistant and other special steel grades, which provides molybdenum and tungsten in constant demand and stable, high prices (a few tens of dollars per kilogram of pure metal) in the global market.

The acquisition of the mines «Yangchushan» cost owners «Duchang Jinding» in 137 million yuan (at the time of the transaction — the equivalent of 20.5 million USD.). The total cost of the project has passed for 1.15 billion yuan (about 180 mln. USD). In February this year «Duchang Jinding» ceded part of their stake in another Chinese company — the corporation «Xiamen Tungsten» (one of the world's tungsten production leader), which bought 60% of the securities «" DJ «for 367 million yuan (at today's exchange rate. — approximately 59.15 million US dollars).

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