Asian Metal News

Chifeng Nianzigou molybdenum mine, designed with 2.4 ktpy molybdenum concentrate capacity is set to come online in Q3 2020.

Project construction of the Chifeng Nianzigou mine is presently underway. It is scheduled to come online in Q3 2020, producing 5 to 8 tonnes of moly concentrates per day or 180 tonnes per month (45% min grade) from raw ore at 0.1% min molybdenum grade. Company management expects molybdenum prices to rebound with improved demand in Q3 2020 as the economy gradually recovers from the COVID-19 pandemic.

Mainstream molybdenum concentrate prices currently stand at RMB1,390~1,420/MTU ex-work by cash, remaining stable on the previous term.


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