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You are here: Home » News » China is Holding the Global "Molybdenum Lifeline"

China is Holding the Global "Molybdenum Lifeline"

Views:0     Author:Site Editor     Publish Time: 2019-08-02      Origin:Site

China is Holding the Global "Molybdenum Lifeline"

Due to its high strength, high melting point, corrosion resistance and wear resistance, molybdenum has been used in steel, chemical, electrical, pharmaceutical and agricultural fields. For the molybdenum element with an average content of only 0.00011% in the earth's crust, China is the country with the most abundant molybdenum resources in the world. Leading the world in reserves, so that countries are amazed.


Holding the global "molybdenum lifeline" half of molybdenum enterprises from China


At present, the global reserves of molybdenum resources is about 11 million tons, while China's molybdenum resource reserves have reached 4.3 million tons, followed by the United States and Chile. Today, the top 11 molybdenum enterprises in the world control 72% of the supply, of which 5 are from China: Shaanxi Jinduicheng Molybdenum, Luoyang Molybdenum, China Railway Yichun Luming Mining, China Gold Manchuria Shan Mining, Huaxia Jianlong Group, Hebei Fengning Xinyuan Mining.


For a highly concentrated industry, this means that China controls the lifeblood of global molybdenum, so the development of molybdenum in China is crucial. Nowadays, Luanchuan has the largest reserves of molybdenum in Henan Province, accounting for 30.1% of the total molybdenum reserves in the country, ranking third in the world with 2.06 million tons and second in Asia, followed by Shaanxi and Jilin. The reserves of molybdenum in the three provinces account for 56.5 of the national total. %.


Technology is becoming more and more sophisticated


With the continuous improvement of molybdenum mining technology in China, since 2017, China has started to add about 25 medium-sized molybdenum mine enterprises. It is estimated that 19 new molybdenum mines will be added, and the production capacity will be expanded to 36,000 tons. Taking Jinduicheng Molybdenum Industry and Luoyang Molybdenum Industry as examples, both companies have molybdenum smelting and finishing capabilities in the entire industrial chain. At the same time, their own mines are not sold externally. While ensuring sufficient energy reserves, they also continue to strengthen. It is fully prepared for the development of molybdenum resources in China.


China Railway Yichun Luming Mining is the only mine in the domestic molybdenum concentrate trading market with a production of more than 10,000 tons. Because it controls 30% of the molybdenum concentrate spot market supply, pricing has a benchmark effect on market prices. As of 2014, the proven reserves of molybdenum mines in China have reached 27.26 million tons. In the next five years, China is expected to put into operation the Daxinganling Moluokou Molybdenum Mine in Heilongjiang Province and the Shapinggou Molybdenum Mine in Anhui Province. By then, China's molybdenum resource reserves will increase greatly, and it will be the top spot in the international molybdenum mine energy.


At the same time, China's molybdenum industry overseas investment has also brought very rich benefits. As of the first half of 2017, Luoyang Molybdenum, which had invested US$5.3 billion, had an overseas revenue of 9.75 billion yuan, accounting for 83.66% of the total revenue. Domestic revenues were 1.816 billion yuan, accounting for 15.58% of total revenue. According to the forecast of relevant institutions, the operating income of Luoyang Molybdenum Industry in 2017-2019 was 249, 270, and 29.2 billion yuan respectively, and the net profit of returning to the mother was 28, 41, and 5.4 billion yuan. Compared with the export of rare earth resources, China has matured a lot. It is no longer just a blind low-cost export, but learns to use its own advantages to create higher value. I believe that China's mining industry will also improve its international status in the future.


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