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Hainan found its largest nonferrous metals mine |
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16:43, October 07, 2008 |
Hainan Province recently discovered a 254,000-ton molybdenum mine with potential economic value exceeding 100 billion yuan. This is the largest nonferrous mineral bed found in Hainan and is ranked as top ten in China.
Geological exploration shows that Luokuidong molybdenum mine is a large porphyry mineral bed with big storage. It can be explored on a large scale.
Molybdenum is a scarce noble metal used in industries such as aeronautical, high building, and military materials. Its economic outlook is very good. A Molybdenum company in Hainan said they will invest 1.5 billion yuan to build Luokuidong mine into a modern large-scale mine.
By People's Daily Online
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