On May 4, Zhejiang-based Chinese company Hengdian Group DMEGC announced its discovery of a copper mine in Sichuan Province, as well as of a medium-sized iron ore mine.
Hengdian Group DMEGC won the exploration right for the area in question on November 1, 2007.
The mine is estimated to contain 12,000 mt of copper with an average grade of 0.79 percent, as well 151.11 mt of cobalt with an average grade of 0.102 percent.