Chalco and Jiangxi Tungsten set up joint Ni-Co unit
Shanghai 27 April 2010 04:09
Aluminium Corp of China (Chalco), the country's largest aluminium producer, has set up a 40,000 tpy nickel-cobalt joint venture Jiangxi Rare Earth & Rare Metals Tungsten Group (Jiangxi Tungsten).
"We plan to begin commissioning the plant next September or October," Liao Xingeng, chairman of the board of Jiangxi Tungsten, said.
Chalco will hold a 51% controlling stake in the joint venture, which could eventually produce around 100,000 tpy.
It will produce around 600-700 tpy of cobalt in addition to 40,000 tpy of nickel in the first phase.
The deal follows an agreement between Chalco and the government of Jiangxi province, which owns Jiangxi Tungsten.
The 1.8 billion yuan ($26.4 million) joint venture will be called Jiangxi Tungsten Nickel & Cobalt New Materials Co..
"We have already signed the agreement and we will try to kick off construction in June," Liao said.
Jiangxi Tungsten has more than 30,000 tpy of tungsten smelting capacity, and a combined 180,000 tpy for other minor metals.
It is currently expanding its own cobalt capacity at Ganzhou, Jiangxi province, to 4,000 tpy, from 1,000 tpy, Liao said.
"We will soon have 2,000 tpy of cobalt smelting capacity next month, and then realise our final target for stage two," he added
