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Home / Metal News / Gold molybdenum shares: 300 million yuan to invest in Jilin Tianchi molybdenum industry

Gold molybdenum shares: 300 million yuan to invest in Jilin Tianchi molybdenum industry

Feb 21, 2020 16:37

Source:SMM

SMM News: gold molybdenum joint-stock announcement, the company intends to invest in Jilin Tianchi Molybdenum Industry Co., Ltd., the investment amount of 300 million yuan. After taking a stake, the company accounts for 18.2967% of its equity. Jilin Tianchi Molybdenum Industry has 224.57 million tons of ore reserves and 253931 tons of molybdenum metal reserves in Jide Molybdenum Mine, a small town in Shulan City, Jilin Province, with an average grade of 0.113%. The design mining mode is open pit mining, the production scale is 8.25 million tons / year.

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Domestic steel bidding suspended during the National Day holiday, and the overall market demand remained low. At the same time, affected by the continuous decline of global molybdenum prices before the holiday, the transactions of small orders were also weak, and traders were inclined to sell off their goods. Currently, the domestic ferromolybdenum prices stood between 150,000-154,000 yuan/mt, down 1,500 yuan/mt from before the holiday.

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Gold molybdenum shares: 300 million yuan to invest in Jilin Tianchi molybdenum industry

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2025 SMM SOUTH AMERICAN LITHIUM RESOURCES FIELD TRIP

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