Xinjiang Nonferrous Metal Industry wins two metal mining rights
2019-10-29 13:52:32 [Print]
According to the news from Department of Natural Resources of Xinjiang Uygur Autonomous Region, Muhu manganese ore in Akto and Dahongliu lithium and beryllium polymetallic deposit in Hetian got approval from the government of Xinjiang Uygur Autonomous Region and invited bids to sell mining rights. Six Chinese medium and large-sized mining companies submitted tenders and Xinjiang Nonferrous Metal Industry (Group) Co., Ltd. became the winning bidder with a price of RMB2.8 billion (USD0.40 billion), the highest price among all bidders.
With the mining rights, Xinjiang Nonferrous Metal Industry (Group) Co., Ltd. will accelerate exploration in these two deposits covering a total area of 176.90 square kilometers and construct supporting smelting and processing base to form a manganese and rare metals industry chain integrating mining, dressing and smelting. After reaching design capacity as planned, the annual production value of over RMB10 billion (USD1.42 billion) is expected in these two counties.
With the mining rights, Xinjiang Nonferrous Metal Industry (Group) Co., Ltd. will accelerate exploration in these two deposits covering a total area of 176.90 square kilometers and construct supporting smelting and processing base to form a manganese and rare metals industry chain integrating mining, dressing and smelting. After reaching design capacity as planned, the annual production value of over RMB10 billion (USD1.42 billion) is expected in these two counties.
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