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Shibang has two series of products now. One is the mill series product grinding machine including Raymond Mill,Raymond Grinder,High-Pressure Suspension Mill,High-Pressure Micro powder Mill and Straight Centrifugal Mill; the other is the crusher series that includes Jaw Crusher, Impact Crusher and Vertical Shaft Impact Crusher (sand Making Machine). And we have secondary products:Vibrating Screen...
Shanghai Shibang
Asian Dragon Group Acquires Molybdenum Mine in Henan Province
Jun. 27, 2007 ‿Asian Dragon Group Inc.'s
The MZG Molybdenum mine, located in Jiaohe Village of Luanchuan County, Henan Province, currently has an exploration license for a perimeter of 14.09 sq km by 4 sq km. The overburden is largely thin and bare on the surface, allowing projects of large-scale opencast mining to be carried out.
According to Asian Dragon's statement, after acquiring, upgrading and transporting a local 2000-ton-per-day iron mill, costing US$4 million, to the site, the company could be generating up to US$216,000 of total profits a day.
The region, which exhibits prolific molybdenum mineralization, is also home to the Luoyang Luanchuan Molybdenum Group Co. Ltd.'s (China Molybdenum)<3993> Sandaozhuang Mine. The 24-million-pound-per-year molybdenum mine is only 6 km away from the MZG Molybdenum Mine.
China Molybdenum is a single mine producer which recently completed its IPO to raise over US$900 million on the Hong Kong Stock Exchange. The Sandaozhuang Mine is one of the largest pure molybdenum mines worldwide.
Vancouver-based Asian Dragon focuses on developing mining properties in China through joint ventures with local Chinese partners. In May, the company had acquired FMDC, a Chinese base metal mining company, with access to properties containing molybdenum, vanadium, silver and lead.
Under the agreement, Asian Dragon would invest US$10 million and a pre-determined allotment of shares to Fuding within a year. An additional US$20 million is payable in the subsequent two years should Asian Dragon opt to increase the stake to 70%.
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