China's Ministry of Industry and Information Technology (MIIT) on Friday unveiled standard conditions for tungsten industry in order to specify production of the existing tungsten enterprises, enhance comprehensive utilization of resources and energy-saving level and promote industrial upgrading and sustainable development of the tungsten industry.
Under the standard conditions, the open cut tungsten ore mine is required to have a capacity of producing more than 150,000 metric tons (tonnes) of tungsten ores annually, while the underground tungsten ore mine should have a capacity of producing 60,000 tonnes of tungsten ores annually. Service life of the tungsten mines has to be more than ten years.
In terms of the mining, the newly-built and transformed tungsten mining projects are required to see recovery ratio, ore dressing recovery ratio and ratio of resource comprehensive utilization meet minimum requirements fixed by the Ministry of Land and Resource.
On China's A-share market, listed companies including Xiamen Tungsten (600549.SH) and Zhangyuan Tungsten Corp. (002378.SZ) are engaged in tungsten mining and production.
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