Changling Mining acquires majority stake in nonferrous mining firm
2025-05-21 11:57:14 [Print]
Recently, Tianjin Changling Mining Partnership, a majority-owned subsidiary of Willing New Energy Co., Ltd., has acquired a 74.3% stake in Hunan Linwu Jiayu Mining Co., Ltd. for RMB220 million (USD30.52 million). Through this acquisition, the company aims to actively expand its presence in the nonferrous metal mining sector. Jiayu Mining's primary resources, including tin and tungsten, are widely used in defense, aerospace, semiconductors, and new energy materials.
Jiayu Mining's key mineral products include tin, tungsten, lead, and zinc. According to the Reserve Verification Report of the Tin Polymetallic Ore in Tieshaping Mining Area, Linwu County, Hunan Province, the verified reserves include 2.902 million tonnes of tin ores, 1.398 million tonnes of lead ores, 1.374 million tonnes of zinc ore and 340,000 tonnes of tungsten ore.
The company holds a mining license with a maximum annual extraction capacity of 300,000 tonnes. Based on a reasonable estimate, subtracting the maximum cumulative extraction of 900,000 tonnes over the past three years from the verified reserves in November 2021, the current estimated reserves are no less than 2.47 million tonnes of tin ore, 1.19 million tonnes of lead ore, 1.17 million tonnes of zinc ore and 290,000 tonnes of tungsten ore.
Jiayu Mining's key mineral products include tin, tungsten, lead, and zinc. According to the Reserve Verification Report of the Tin Polymetallic Ore in Tieshaping Mining Area, Linwu County, Hunan Province, the verified reserves include 2.902 million tonnes of tin ores, 1.398 million tonnes of lead ores, 1.374 million tonnes of zinc ore and 340,000 tonnes of tungsten ore.
The company holds a mining license with a maximum annual extraction capacity of 300,000 tonnes. Based on a reasonable estimate, subtracting the maximum cumulative extraction of 900,000 tonnes over the past three years from the verified reserves in November 2021, the current estimated reserves are no less than 2.47 million tonnes of tin ore, 1.19 million tonnes of lead ore, 1.17 million tonnes of zinc ore and 290,000 tonnes of tungsten ore.
Tungsten Ore WO3 55%min EXW China
Unit:RMB/mt 65-basis
China tungsten concentrate producers' inventory statistics by province by month
Unit: mt
