SHANGHAI Aug 31 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)