Gigantic Copper-Molybdenum Mining Project Contract Signed in Guangdong

With the reserves of nearly 1,000,000 tons of copper and approximately 250,000 tons of molybdenum and a total investment of RMB 5 billion, Guangdong Fengkai Yuanzhushan copper-molybdenum mining project contract was inked on October 13, 2011. It is reported that this is China’s second largest open-cast copper molybdenum mine next only to Dexing Copper Mine.

The deposit has a potential economic value of over RMB 500 billion and its resources utilize-tion plan has passed expert review of China Nonferrous Metals Association and been listed as a key project of Guangdong nonferrous metals industrial adjustment and revitalization plan, with the construction period spanning from2010to2013.