JDC to invest in molybdenum-based advanced materials processing base

Jinduicheng Molybdenum Co., Ltd. (JDC Molybdenum) announced on June 5 that it plans to establish a joint venture subsidiary together with Anhui Jinsha Molybdenum Co., Ltd. and Anhui Jinfu Smart Energy Co., Ltd. to construct a molybdenum-based advanced materials processing base.

According to the announcement, the joint venture will be located in the Jinzhai Economic Development Zone, Lu'an City, Anhui Province, with a registered capital of RMB1 billion (USD147.42 million). JDC Molybdenum is set to contribute RMB510 million (USD75.18 million), representing a 51% stake, and will take the lead in the development, construction, and operation of the project.