China's Sichuan Hongda Plans $1.64 Bln Molybdenum-Copper Project

SHANGHAI, Aug 31, 2011 (Dow Jones) -- Sichuan Hongda Co. (600331.SH) said its copper-molybdenum unit plans to build a CNY10.48 billion ($1.64 billion) molybdenum-copper refining facility that will start commercial operations by the end of 2015.

The company, one of China's major zinc and lead producers, said in a statement Wednesday that it expects the project to be completed in two two-year phases, with total capacity at 400,000 tons of copper cathode and 40,000 metric tons of pure molybdenum.

Annual capacity for the first phase is planned at 25,000 tons of ferro-molybdenum and 200,000 tons of copper cathode, while the second phase targets additional capacity of 30,000 tons of high pure molybdenum trioxide and 200,000 tons of copper cathode, it said.