Guocheng Mining announces major molybdenum asset acquisition
2025-11-10 13:38:39 [Print]
Guocheng Mining plans to acquire a 60% stake in Inner Mongolia Guocheng Industrial Co., Ltd. from its controlling shareholder Guocheng Group, for RMB3.17 billion (USD44.52 billion) in cash. After the deal, Guocheng Industrial will become a majority-owned subsidiary of Guocheng Mining, marking a major asset restructuring.
Guocheng Industrial operates the Dasuji Molybdenum Mine in Zhuozi County, Inner Mongolia. The mine has an annual production capacity of 5 million tonnes of raw ore and is seeking approval to expand to 8 million tonnes. As of August 2023, it held proven reserves of 123.7 million tonnes of ore containing about 144,836 tonnes of molybdenum metal with an average grade of 0.117%.
The acquisition will add molybdenum concentrate production to Guocheng Mining's existing zinc, lead, and copper operations, enhancing its product mix and resource portfolio.
Guocheng Industrial operates the Dasuji Molybdenum Mine in Zhuozi County, Inner Mongolia. The mine has an annual production capacity of 5 million tonnes of raw ore and is seeking approval to expand to 8 million tonnes. As of August 2023, it held proven reserves of 123.7 million tonnes of ore containing about 144,836 tonnes of molybdenum metal with an average grade of 0.117%.
The acquisition will add molybdenum concentrate production to Guocheng Mining's existing zinc, lead, and copper operations, enhancing its product mix and resource portfolio.
Molybdenum Conc. 45%min EXW China
Unit:RMB/dmtu
China molybdenum concentrate producers' sales to production ratio statistics by province by month
Unit: %
