Tailings dam spill at Chinese molybdenum mine pushes up prices but rise unlikely to last

Concerns that a tailings dam leak at a Chinese molybdenum mine could affect supplies pushed prices up in the first half of the week, but the uptrend is only expected to be short-lived, sources told Fastmarkets.

A spill from a tailings dam last weekend at Yichun Luming Mining in China’s Heilongjiang province has contaminated water up to 110 km downstream, China’s environmental authority said on Wednesday April 1.

Yichun Luming Mining, a subsidiary of China Railway Resources Group, owns the open-pit Luming molybdenum mine where operations have been suspended due to the incident, a source at the company told Fastmarkets, without specifying a possible restart...

Published

Ewa Manthey

April 02, 2020

14:46 GMT

London