Xiamen Tungsten to buy stake in Jiangxi Jutong, increase tungsten resources

Xiamen Tungsten, China’s largest tungsten smelting and processing company, announced it is to pay 922.4 million yuan ($144.8 million) to acquire a 32.36% stake in Jiangxi Jutong as it looks to build up its tungsten concentrate reserves.

Proven reserves at Jiangxi Jutong's Dahutang tungsten mine in Wuning County total 932,300 tonnes, meaning the purchase would significantly increase Xiamen Tungsten’s tungsten reserves, improve its raw material self-sufficiency...

Published

Rena Gu

September 08, 2015

05:53 GMT

Shanghai