Large Molybdenum Deposit Discovered in Xinjiang

SHANGHAI, June 8 -- A molybdenum deposit with proven resources of 300,000 tons has been discovered in the city of Hami in the Xinjiang Uyghur Autonomous Region, state media reported on June 5.

According to a China News Service report, exploration work on the deposit was carried out by the second geotechnical institute at the Henan Provincial Bureau of Geo-Exploration and Mineral Development. The deposit has probable undiscovered molybdenum resources of over 150,000 tons.

"We hold the exploration rights to the deposit and began (exploration) work there in 2006," an employee from the second geotechnical investigation institute told Interfax under the condition of anonymity. He declined to disclose any further information.

Interfax previously reported that a 500,000-ton molybdenum deposit has been discovered in Anhui Province. Tongling Metals will work with Anhui's Bureau of Geology and Mineral Exploration to develop the deposit.