Western Mining exceeds H1 concentrate production plan
2024-07-29 15:26:58 [Print]
In the first half of 2024, China's Western Mining produced 85,235 tonnes of copper in concentrate, up by 42% YoY, 1,926 tonnes of molybdenum in concentrate, up by 39% YoY, 642,303 tonnes of iron concentrate, up by 17% YoY, 53,009 tonnes of zinc in concentrate and 28,139 tonnes of lead in concentrate. Except for the planned shutdown of iron ore mine, the company exceeded production guidance for its main concentrate products.
During the first half, the company produced 121,548 tonnes of copper cathode, up by 44.12% from the year ago period, including 85,324 tonnes and 34,022 tonnes respectively from Qinghai Copper and Western Copper Products, two of its subsidiaries, up by 53.95% and 29.26% respectively year on year. The company's H1 production of zinc ingot increased by 6% YoY to 60,620 tonnes.
As of June 30, 2024, the company held mineral reserves of 5.93 million tonnes of copper, 1.54 million tonnes of lead, 2.66 million tonnes of zinc, 370,000 tonnes of molybdenum, 640,000 tonnes of vanadium pentoxide, 270,000 tonnes of nickel, 13 tonnes of gold, 2,052 tonnes of silver, 296.49 million tonnes of iron ore and 30.46 million tonnes of magnesium chloride.
With major upgrade projects launched for the smelting of nonferrous metals, the company expects to have production capacities of 300,000tpa of copper cathode, 200,000tpa of refined lead, 6tpa of gold ingot, 430tpa of silver ingot, 100,000tpa of zinc ingot, 10,000tpa of zinc powder, and 2,000tpa of ammonium metavanadate by the end of 2024.
During the first half, the company produced 121,548 tonnes of copper cathode, up by 44.12% from the year ago period, including 85,324 tonnes and 34,022 tonnes respectively from Qinghai Copper and Western Copper Products, two of its subsidiaries, up by 53.95% and 29.26% respectively year on year. The company's H1 production of zinc ingot increased by 6% YoY to 60,620 tonnes.
As of June 30, 2024, the company held mineral reserves of 5.93 million tonnes of copper, 1.54 million tonnes of lead, 2.66 million tonnes of zinc, 370,000 tonnes of molybdenum, 640,000 tonnes of vanadium pentoxide, 270,000 tonnes of nickel, 13 tonnes of gold, 2,052 tonnes of silver, 296.49 million tonnes of iron ore and 30.46 million tonnes of magnesium chloride.
With major upgrade projects launched for the smelting of nonferrous metals, the company expects to have production capacities of 300,000tpa of copper cathode, 200,000tpa of refined lead, 6tpa of gold ingot, 430tpa of silver ingot, 100,000tpa of zinc ingot, 10,000tpa of zinc powder, and 2,000tpa of ammonium metavanadate by the end of 2024.
Molybdenum Conc. 45%min EXW China
Unit:RMB/dmtu
China molybdenum concentrate producers' inventory statistics by province by month
Unit: mt
