NDRC Approves Duobaoshan 7.5 Million-Metric-Ton Copper Ore Mining Project Application

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Researched by Industrial Info Resources (Sugar Land, Texas)--The project application report of Heilongjiang Duobaoshan Copper Industry Company Limited's (HDCIC) (Heihe, Heilongjiang) Duobaoshan copper (molybdenum) ore mining project received approval from the National Development and Reform Commission (NDRC), the top planner in China, in September 2010. The project is ready to begin shortly.

The Duobaoshan mine is in Duobaoshan Town in Heihe City, which is about 600 kilometers from Harbin, the capital city of the Heilongjiang province. It comprises four mining zones with a total proven reserve of 2.37 million metric tons of copper; 80,000 metric tons of molybdenum; 73.4 metric tons of gold; and 1,045.92 metric tons of silver.

In January 2006, HDCIC was jointly established by Zijin Mining Group Company Limited (SHA:601899) (Longyan, Fujian) (51%), Heilongjiang Heilong Mining Company Limited (Harbin, Heilongjiang) (37%), and two other local enterprises responsible for the development of the "X deposit" in Mining Zone 3 at the Duobaoshan mine. The construction scope of the project mainly comprises the open-pit stope, mining industrial field, ore preparation plant, bio-leach field, office buildings, tailing pond, purification station, warehouses, and other common and auxiliary systems.

The project is designed to process 25,000 metric tons per day, or 7.5 million metric tons per year, of ore in the current stage, and to produce 117,600 metric tons of copper ore concentrates (25% Cu); 1,375 metric tons of molybdenum ore concentrates (45% Mo); 22,478 metric tons of iron ore concentrates (65%Fe); and 3,000 metric tons of electrowinning copper annually. Total investment in the project will be about $150 million.

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