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Development

Tibet's Biggest Ore Dressing Plant To Complete Construction



[Xinhua is the official news agency of PRC]
19 April, 2006

Lhunzhub Ore Dressing Plant, the largest of the kind in the Tibet Autonomous Region, southwest China, will complete construction and be ready for production this July.

Chen Yong, chairman of the board of the Tibet Resource Investment Company, the investor of the ore dressing factory, said his company had been upgrading the workshops of a smaller plant bearing the same name as the present ore dressing plant at a cost of 10 million yuan (about 1.23 million U.S. dollars).

The Ore Dressing Plant of Lhunzhub, north to Lhasa, the regional capital of Tibet, will be able to handle 100,000 tons of ores annually, and score about 100 million yuan (about 12.33 million U.S. dollars) in annual sales, plus 5 million yuan in annual taxes when it is completed with upgrading and put to operation in July, said Chen.

The Tibet Resource Investment Company is a subsidiary of West China Mining Corporation, a state-owned mineral producing company in neighboring Qinghai Province.

Statistics show in Tibet, also known as the roof of the world, there are 17 kinds of mineral resources with proven reserves, such as chromium, copper, iron, boron and gold, and the value of mineral resources in the plateau region is placed over 600 billion yuan (about 73.98 billion U.S. dollars).

There are now 300 ore mining companies across Tibet.

Chen, who is upbeat about fulfilling the goal of Lhunzhub Ore Dressing Plant, said his company controlled the stake of a private local firm in Tibet that possesses 17 items of ore mining and prospecting rights and was also granted the right for copper and zinc ores exploring on a 17.02 sq km land stretch in Damxung further north to Lhunzhub.

Source: Xinhua



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