Ganzhou tungsten output value to exceed CNY 20bn in 2011

Ganzhou in Jiangxi Province is to see the annual output value of its
tungsten industry exceed CNY 20 billion in 2011 and itself become
China's prospecting, exploitation, processing, scientific research and
distribution center of tungsten resources.

In five years, Ganzhou's tungsten industrial cluster will turn in more
than CNY 2.5 billion pre-tax profits every year; ten companies will
have annual sales revenue of over CNY 1 billion each; and two or three
companies will float shares.

Ganzhou's reserve of tungsten ore and the output of tungsten
concentrates both contribute 30% to the total numbers of China. The
surplus reserve of wolframite even accounts for 70% of China's like
ore reserve and 60% of the global one.

Currently, an array of cooperative projects with companies like China
Minmetals Corporation, Advanced Technology & Materials Co., Ltd., and
Sumitomo Corporation has settled down in Ganzhou. A group of local
companies are rapidly growing, including Chongyi Zhangyuan Tungsten
Co., Ltd. and Yaosheng (Jiangxi) Industry & Trade Development Co.,
Ltd. – SinoCast