Luoyang Molybdenum Industry announced in the evening that the company has recently obtained a mining license for Sandaozhuang Molybdenum Mine issued by the Ministry of Natural Resources, with a production scale of 9.9 million tons / year, with an effective period from June 1, 2021 to June 1, 2023.
It is worth mentioning that in 2021, with the gradual popularization of vaccines and the continuous promotion of economic stimulus policies, the international economy recovered rapidly, especially the United States, Japan and South Korea almost returned to the pre-epidemic level, coupled with international molybdenum mine production accidents and international shipping delays, jointly promote the international molybdenum market supply exceeds demand, the international molybdenum oxide price soared to about 20 U.S. dollars / pound molybdenum price high in recent ten years. In the first half of 2021, the average price of molybdenum oxide in MW (American Metal Weekly) was $12.74 per pound of molybdenum, an increase of 40.77% over the same period last year. The lowest price was $9.85 per pound of molybdenum and the highest price was $20.65 per pound of molybdenum.
It is understood that Luoyang Molybdenum is the world's leading cobalt producer and an important copper producer. The TFM Copper-Cobalt Mine operated in the Democratic Republic of the Congo (DRC) is one of the largest and highest-grade copper-cobalt deposits in the world, with a mining area of more than 1500 square kilometers. The KFM copper-cobalt deposit adjacent to the TFM mining area in 2020 is a world-class project with abundant resources, high average grade of copper-cobalt ore and huge exploration potential, which further consolidates the position of Luoyang molybdenum industry in the field of new energy raw materials and makes Luoyang molybdenum industry play an important role in the transformation of global green energy industry. The niobium-phosphorus mining area operated by Luoyang Molybdenum Industry in Brazil is rich in reserves, has broad exploration prospects, and has abundant and high-quality niobium and phosphate ore resources. Luoyang Molybdenum Industry is one of the world's leading producers of tungsten and tungsten. The Sandaozhuang molybdenum-tungsten deposit located in Luanchuan, Henan Province, China is a super-large primary molybdenum-tungsten symbiotic deposit, which is part of the Luanchuan molybdenum ore field, which is the largest primary molybdenum ore field in the world. The supply of molybdenum ore in Luanchuan Shangfanggou Molybdenum Mine (adjacent to Sandaozhuang Molybdenum Tungsten Mine) owned by Fuchuan Mining Co., Ltd. increased steadily after the resumption of production, which effectively alleviated the impact of the decline in molybdenum production caused by the decline in molybdenum ore grade in Sandaozhuang Mine. At the same time, the rich associated iron resources of Shangfanggou Molybdenum Mine have also been efficiently recovered.
Luoyang molybdenum industry belongs to the mining and dressing industry of non-ferrous metals, which is mainly engaged in mining, processing and mineral trade business such as mining, processing and mineral trade of basic metals and rare metals. At present, Luoyang Molybdenum Industry, with its main business in Asia, Africa, South America, Oceania and Europe, is the world's leading producer of tungsten, cobalt, niobium, molybdenum and important copper, as well as a leading producer of phosphate fertilizer in Brazil. At the same time, Luoyang Molybdenum's basic metals trading business ranks among the top three in the world.
