XTC to raise no more than RMB4 billion for tungsten projects
2023-05-19 14:36:28 [Print]
On May 18, Xiamen Tungsten Co., Ltd. (XTC) announced that the company planned to raise no more than RMB4 billion (USD0.57 billion) for its tungsten expansion projects, including RMB1 billion (USD0.14 billion) for cemented carbide cutting tool expansion project, RMB1.05 billion (USD0.15 billion) for 100-billion-meter PV tungsten wire project, RMB750 million (USD107 million) for Bobai Youmapo tungsten-molybdenum mine project, and RMB1.2 billion (USD0.17 billion) for supplementing working capital.
Upon construction completion, the cemented carbide cutting tool project will reportedly have an annual production capacity of 2 million units of solid tools, 30 million units of indexable inserts, and 1.7 million units of super-hard cutting tools.
The PV tungsten wire project will have a construction cycle of three years and will have a designed annual production capacity of 100 billion meters of PV tungsten wire.
Bobai Youmapo tungsten-molybdenum mine project has a measured tungsten ore reserve of over 18.10 million tons containing around 80,0000t of WO3 compounds with an average grade of 0.442%. When in operation, the project is expected to have an annual mining and beneficiation capacity of 660,000t of tungsten ores, equivalent to around 2,000t per day.
Upon construction completion, the cemented carbide cutting tool project will reportedly have an annual production capacity of 2 million units of solid tools, 30 million units of indexable inserts, and 1.7 million units of super-hard cutting tools.
The PV tungsten wire project will have a construction cycle of three years and will have a designed annual production capacity of 100 billion meters of PV tungsten wire.
Bobai Youmapo tungsten-molybdenum mine project has a measured tungsten ore reserve of over 18.10 million tons containing around 80,0000t of WO3 compounds with an average grade of 0.442%. When in operation, the project is expected to have an annual mining and beneficiation capacity of 660,000t of tungsten ores, equivalent to around 2,000t per day.
Tungsten Bar W-4 99.9%min EXW China
Unit:RMB/kg
China tungsten concentrate producers' sales volume statistics by province by month
Unit: mt
