Huixiang Yongjin Mining to resume copper concentrate production
2024-04-10 14:22:50 [Print]
BEIJING (Asian Metal) 10 Apr 24 - Xinjiang Huixiang Yongjin Mining Co., Ltd. plans to resume copper concentrate production in mid-April. Affected by the mining accident in Inner Mongolia, this year Xinjiang enhances production-resuming criteria for copper concentrate producers. Huixiang Yongjin Mining has been out of production since January 28 when it suspended operation for the Spring Festival holiday.
"Early this year production-resuming criteria for copper concentrate producers were enhanced in Xinjiang in consideration of production safety. Our company suspended production on January 28 for the holiday and since then remains out of operation. With all necessary procedures completed now, we plan to restart production in mid-April. Now we hold about 400 metal tons of stocks. Our copper ores have high quality with copper content 24%min while sulphur content less than 10% and silver content around 240g. We plan to make sales at RMB68,400/t (USD9,458/t) delivered with a valuation coefficient of 89.5%," a source from the company said.
With an annual production capacity of 8,400 metal tons of copper concentrate, the company produced 600 metal tons in Q1 2024.
Current mainstream prices for copper concentrate in China stay at RMB68,800-69,000/metal ton (USD9,514-9,541/metal ton), up by around RMB500/metal ton (USD69.14/metal ton) from early March. Insiders believe that mainstream prices for copper concentrate would edge up in the coming days.
"Early this year production-resuming criteria for copper concentrate producers were enhanced in Xinjiang in consideration of production safety. Our company suspended production on January 28 for the holiday and since then remains out of operation. With all necessary procedures completed now, we plan to restart production in mid-April. Now we hold about 400 metal tons of stocks. Our copper ores have high quality with copper content 24%min while sulphur content less than 10% and silver content around 240g. We plan to make sales at RMB68,400/t (USD9,458/t) delivered with a valuation coefficient of 89.5%," a source from the company said.
With an annual production capacity of 8,400 metal tons of copper concentrate, the company produced 600 metal tons in Q1 2024.
Current mainstream prices for copper concentrate in China stay at RMB68,800-69,000/metal ton (USD9,514-9,541/metal ton), up by around RMB500/metal ton (USD69.14/metal ton) from early March. Insiders believe that mainstream prices for copper concentrate would edge up in the coming days.
