Sichuan Hongda plans a $1.64-bln molybdenum-copper refinery

SHANGHAI Wed Aug 31, 2011 5:14am EDT

SHANGHAI Aug 31 (Reuters) - Sichuan Hongda Co., Ltd , one of China's biggest zinc and lead producers, plans to build a 10.48 billion yuan ($1.64 billion) molybdenum-copper refining project.

It said in a statement that the project is expected to have yearly production capacity of 400,000 tonnes of copper cathodes and 40,000 (contained metal) tonnes of molybdenum metal.

The company estimates it can reach a sales revenue of 34.69 billion yuan and net profit of 1.38 billion yuan after production for the project starts.

Construction will be carried out in two stages, and is earmarked for completion in 2015.

Annual production capacity for the first stage is estimated at 25,000 tonnes of molybdenum metal, 7,516 tonnes of molybdenum trioxide and 200,000 tonnes of copper cathodes.

The second stage is estimated to add an additional 30,000 tonnes of pure molybdenum trioxide and another 200,000 tonnes of copper cathodes to its yearly production capacity. ($1 = 6.381 Chinese Yuan) (Reporting by Carrie Ho and David Lin; Editing by Ken Wills)