China's second largest open pit copper-molybdenum mine project broke ground on November 8 in Fengkai County, Guangdong Province, as reported by China Economic Times.
The total investment in the project amounts to RMB 5 billion ($790 million). Upon completion and commissioning, the annual output of copper concentrate will reach 89,000 mt, while annual output of molybdenum concentrate will total 9,801 mt.
The large copper-molybdenum deposit in Fengkai, Guangdong, with proven reserves of 1 million mt (about 250,000 mt of molybdenum), was discovered in 2008.