Over the past few months, Hunan-based lead smelters, including Hunan Yuteng Nonferrous Metals and Chenzhou City Jingui Silver Industry Co, have obtained silver tolling licenses, which will allow them to import high-silver raw materials, with tax waivers, sources told Fastmarkets.
“We are looking for a profitable opportunity to diversify from the base metals portfolio and silver tolling has come into the spotlight. That could help provide Hunan Yuteng access to credit financing,” Awin Resources' general manager Milton Li told Fastmarkets on Friday September 10.
The base metals trading subsidiary of the Fortune 500-listed Amer International recently signed an offtake deal with lead smelter Hunan Yuteng, Li said.
Awin will help Yuteng, which is now in the process of debt restructuring, to procure high-silver lead concentrates and silver concentrates and will then assist Hunan Yuteng with marketing the refined lead and silver...