en.Wedoany.com Reported - The groundbreaking ceremony for the Shapinggou Molybdenum Mine beneficiation project was held on June 18, 2026, at the project site in Guanmiao Township, Jinzhai County, Lu'an City, Anhui Province, China. Sun Xuelong, Deputy Mayor and First-Level Inspector of Lu'an City, attended and announced the start of construction. Dong Yile, Secretary of the Jinzhai County Party Committee, and Long Yi, Vice President of Zijin Mining Group Co., Ltd. (referred to as "Zijin Mining," 601899.SH), delivered speeches. The project has a planned total investment of approximately RMB 8 billion. Upon completion, it is expected to produce 50,000 tons of molybdenum concentrate with a grade of 57% annually, with an estimated annual industrial output value exceeding RMB 10 billion at full production capacity, and will provide 2,000 jobs.
The Shapinggou Molybdenum Mine is the world's largest concealed porphyry-type independent molybdenum deposit in terms of reserves, with molybdenum metal reserves of 2.4594 million tons. The designed mining and beneficiation production capacity is 10 million tons per year, with a mine service life of 84 years. This mine is a world-class, ultra-large, undeveloped porphyry molybdenum polymetallic deposit, featuring a massive ore body with stable thickness variations. The project adopts a development method combining main and auxiliary shafts with a ramp. The mining method is large-diameter deep-hole open stoping with subsequent backfill. The beneficiation process includes primary crushing, semi-autogenous grinding, ball milling, flotation, and concentrate thickening and filtration, with the final product being molybdenum concentrate with a molybdenum grade of 57%.
Zijin Mining acquired 84% equity of Jinsha Molybdenum Industry on October 21, 2022. After an equity transfer agreement in February 2026, Zijin Mining holds 60% equity of Jinsha Molybdenum Industry and leads the project's development and operation. In his speech, Jinzhai County Party Committee Secretary Dong Yile stated that the launch of this beneficiation project marks a new phase in the development of the Shapinggou Molybdenum Mine and signifies a milestone in the implementation of Lu'an City's "Steel and Molybdenum" industrial development strategy. Long Yi, Vice President of Zijin Mining, stated that the project will focus on mine construction goals such as green, safe, intelligent, tourism-oriented, and wealth-generating operations, accelerating the creation of a hundred-billion-yuan molybdenum-based industrial cluster.
The development of the Shapinggou Molybdenum Mine will effectively enhance China's self-sufficiency in molybdenum resources and significantly impact the global molybdenum market supply pattern. Upon completion, the project will substantially drive the economic and social development of Jinzhai County and the Dabie Mountain old revolutionary base area.
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