In the central part of the Chinese province of Hunan 407ya exploration team discovered a very impressive tungsten deposit. In general, the volume of public stocks is approximately 19.16 million. Tons. The content of useful component in which up to 70 400 tons. If it is decided to develop the deposit, it will last about 17 years. The economic benefits at the same time will exceed 12 billion. Dollars. Reconnaissance work conducted in this area for over 4 years. The total volume of 34x prospecting pits was 21 to 500 meters. At work it was discovered about 19 mineralized layers with a capacity 0,64−17,56 meters. The content of useful component in them is 0.367%. In addition, 57 ore manifestations 12ti groups was detected.
Both exports and imports of molybdenum in China increased over the 10 months of this year. Export volumes compared to the same period last year increased by 2.1 times to the level of 13.9 million. Pounds. pure metal imports increased by 11.4%, which amounted to 14,020,000. pounds. However, the October volumes compared with previous months have fallen considerably. Exports of molybdenum amounted to 611,000 pounds, import — 665 thousand pounds. Global molybdenum value falls that affected the domestic Chinese market in October. As a result of lower prices, some manufacturers have suspended output. Also fell volumes of imported raw materials and export of finished products. Perhaps such measures will reduce the excess supply with a corresponding increase in cost of goods. Cross-border supply of ferromolybdenum completely come to naught. Despite the fact that the intra-market its price was low, 20% duty impact on external supplies. As a result, the alloy was more expensive than the South American and North American products.
December 8, 2014 in Singapore and Chinese syndicate of investors announced their intention to invest in Indonesian production of ferronickel. The structure of the conglomerate from China includes Qiyun Investment and Xinxing Pipe, from Singapore — Corsa Investments. The first phase of the project involves the construction of the sinter capacity by 190 000 t / y of concentrate. The second phase will increase the capacity to 760 000 tons of ferronickel and 570 000 tons of concentrate. The collected funds will help to create a group in Indonesia «Harita». In its favor it will be granted more than 350 million. USD assets in order to implement the first phase of the project.