Asian Metal attends the ground-breaking ceremony of Sino-German H.C. Stark & JXTC tungsten project

Emily Zhang, tungsten market analyst of minor metal department and Li Xin, manager of marketing department of Asian Metal were invited to the ground-breaking ceremony of Sino-German H.C. Stark & JXTC Tungsten project on August 14, 2012.

JXTC and H.C. Stark signed joint venture agreement on May 18, 2011 during Jiangxi (Hong Kong) Attract Investment Week to co-invest on Sino-German H.C. Stark & JXTC Tungsten project. The project aims to produce high quality tungsten products based on tungsten business advantage in JXTC and world class tungsten smelting technology in H.C. Stark. The project consists of two joint ventures. One is Jiangwu & H.C. Starck Tungsten Company owned by JXTC with designed capacity of 14,000 tons per year for APT and tungsten oxide, and the other is H.C. Stark & JiangWu tungsten Specialities (Ganzhou) Company owned by H.C. Stark with designed capacity of 10,000 tons per year for tungsten powder and tungsten carbide powder. The project started and entered into full-scale construction on August 14, 2012 which will be completed and put into operation at the end of 2013. Total investment is RMB618 million. After achieving standard production, the two joint ventures will bring about annual sale revenue of RMB5 billion, generating total pre-tax profits of RMB750 million and providing 400 jobs.

Over 500 guests were invited to the ground-breaking ceremony, including leaders and customers of JXTC and H.C. Stark, government officials and representatives from business circle and financial circle. The ceremony was chaired by Zhong Xiaoyun, Chairman and General Manager of JXTC.

After the ceremony, Dr. Andreas Meier, president and CEO of H.C. Stark accepted exclusive interview and shared opinions on current tungsten market with Asian Metal.