Weishan rare earth base intends to finance 1.3 billion
2010-01-25 17:30:30 【Print】
25 Jan 10 - According to the latest news released by Shanghai United Assets and Equity Exchange, Cui Zhuang Mine Investment Co., Ltd. in Weishan county of Jining City, Shandong Province intends to open to the public financing of 1.3 billion to jointly develop new materials of rare-earth processing base in Weishan. To return on investment of the project may need 8 years.
Cui Zhuang Mine Investment Co., Ltd. in Weishan county, which is a state-owned enterprise with registered capital of Jin 1 billion, invests in rare earth, medicine, coal technology, carbon black and so on. Weishan Rare Earth Mine was placed under the management of the company.
Weishan Rare Earth mine is one of three light rare earth mineral deposits that has developed in China, and is the only rare earth production base in Shandong Province, with the proven resource of 12.75 million tons of rare earth, and the recoverable reserves of rare earth oxide (REO) 255 million tons. The mine went into operation in 1973, the State Development and Reform Commission had allocated the mandatory production targets of the annual output of 10,000 tons of rare earth concentrates in 2008.
The project is the construction in three phases. To realize the goal of its handling of rare earth concentrate (REO50%) 10000 tons, annual output of rare earth carbonate 7051.7 tons, annual output of 28 tons thorium by-product oxalic acid, ammonium sulfate fertilizer 4629 tons, 1042 tons of ammonia hydrogen fluoride and construction projects including material handling workshop, carbonate Rare-earth workshop, power station, production management office and the thorium salt Chan Pinku and other facilities in the first phase; to construct new mines in the rare earth mining area, expand the ability of rare earth mining & processing and achieve an annual output capacity of 300,000 tons ore in the second phase; to establish annual 25 thousand tons of rare earth separation capacity in rare-earth industry district of Economic and Technological Development Zone in Weishan, and gradually build an annual output of 1,000 tons of rare earth alloy production line project and an annual output of 1,000 tons of rare earth magnetic material production line.
It is understood that our country is controlling the rare earth resources reasonably, and shifted from guidance to the mandatory plan for rare earth production. The supply in the market is tight. In the past two years, large quantities of rare earth smelters and processing enterprises are in seriously short of supply of raw materials, resulting in that many companies operating rate is less than 50%, and a large number of small businesses were forced to stop production or shut down. The export policies of the rare earth products have also been adjusted by the State in recent years with the intention to encourage the export of rare earth deep-processing products and prohibit the export of primary products of rare earth in order to protect resources, adjust product structure, improve product grades, and improve enterprise competitiveness and profitability.
Cui Zhuang Mine Investment Co., Ltd. in Weishan county, which is a state-owned enterprise with registered capital of Jin 1 billion, invests in rare earth, medicine, coal technology, carbon black and so on. Weishan Rare Earth Mine was placed under the management of the company.
Weishan Rare Earth mine is one of three light rare earth mineral deposits that has developed in China, and is the only rare earth production base in Shandong Province, with the proven resource of 12.75 million tons of rare earth, and the recoverable reserves of rare earth oxide (REO) 255 million tons. The mine went into operation in 1973, the State Development and Reform Commission had allocated the mandatory production targets of the annual output of 10,000 tons of rare earth concentrates in 2008.
The project is the construction in three phases. To realize the goal of its handling of rare earth concentrate (REO50%) 10000 tons, annual output of rare earth carbonate 7051.7 tons, annual output of 28 tons thorium by-product oxalic acid, ammonium sulfate fertilizer 4629 tons, 1042 tons of ammonia hydrogen fluoride and construction projects including material handling workshop, carbonate Rare-earth workshop, power station, production management office and the thorium salt Chan Pinku and other facilities in the first phase; to construct new mines in the rare earth mining area, expand the ability of rare earth mining & processing and achieve an annual output capacity of 300,000 tons ore in the second phase; to establish annual 25 thousand tons of rare earth separation capacity in rare-earth industry district of Economic and Technological Development Zone in Weishan, and gradually build an annual output of 1,000 tons of rare earth alloy production line project and an annual output of 1,000 tons of rare earth magnetic material production line.
It is understood that our country is controlling the rare earth resources reasonably, and shifted from guidance to the mandatory plan for rare earth production. The supply in the market is tight. In the past two years, large quantities of rare earth smelters and processing enterprises are in seriously short of supply of raw materials, resulting in that many companies operating rate is less than 50%, and a large number of small businesses were forced to stop production or shut down. The export policies of the rare earth products have also been adjusted by the State in recent years with the intention to encourage the export of rare earth deep-processing products and prohibit the export of primary products of rare earth in order to protect resources, adjust product structure, improve product grades, and improve enterprise competitiveness and profitability.
