Gejiu Huifeng Mining delays tin concentrate production
2023-04-24 08:21:21 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Due to mine consolidation and expiration of mining license, Gejiu Huifeng Mining Co., Ltd., a major tin concentrate of 60%min producer in Yunnan, would probably delay production of tin concentrate to early July with no output in April.
"We originally had a plan to resume production in early February this year. However, we had to delay the resumption of production until July as our mine license has still not been renewed," a source from the company noted. They added that they didn't produce tin concentrate since early January.
Based on an annual production capacity of 10,000 metal tons, the company exploits tin ore with the grade of about 0.4% from its own mine in Yunnan to produce tin concentrate 60%min. They own a dressing plant with a daily processing capacity of 1,600t in Hunan. The company, recorded no production so far this year, predicted to produce around 1,000 metal tons in 2023, decreased by 50% YoY, holding no inventory now.
Currently, the mainstream prices of tin concentrate 60%min stand at RMB202,000-204,000/metal ton (USD29,303-29,593/metal ton) delivered D/P in Yunnan, in line with last Friday. Due to sluggish deals in the terminal market, insiders expect that prices of Chinese tin concentrate would move down tomorrow in spite of tight supply of tin concentrate.
"We originally had a plan to resume production in early February this year. However, we had to delay the resumption of production until July as our mine license has still not been renewed," a source from the company noted. They added that they didn't produce tin concentrate since early January.
Based on an annual production capacity of 10,000 metal tons, the company exploits tin ore with the grade of about 0.4% from its own mine in Yunnan to produce tin concentrate 60%min. They own a dressing plant with a daily processing capacity of 1,600t in Hunan. The company, recorded no production so far this year, predicted to produce around 1,000 metal tons in 2023, decreased by 50% YoY, holding no inventory now.
Currently, the mainstream prices of tin concentrate 60%min stand at RMB202,000-204,000/metal ton (USD29,303-29,593/metal ton) delivered D/P in Yunnan, in line with last Friday. Due to sluggish deals in the terminal market, insiders expect that prices of Chinese tin concentrate would move down tomorrow in spite of tight supply of tin concentrate.
