Japan's Mitsubishi and Jiangtung Group join hands with superhard tool products project

Jiangxi is a province with large mineral resources. The reserves of tungsten ore ranks second in the country. The mining capacity of tungsten ore is first-class in China, but its deep processing capacity is in the middle of the country. This situation will change. Jiangxi Tungsten Group will conduct a feasibility study on the tungsten ore deep processing project in Beijing next week with Japan's Mitsubishi Materials Co., Ltd. As expected, the project is expected to start in Nanchang in October.

It is understood that this "big ship" waiting to set sail is jointly invested by Jiangxi Tungsten Group and Japan's Mitsubishi Materials Corporation and New Metal Company. Jiangxi Tungsten Group revealed that China is expected to hold a new company with 37% of the shares. The new company's plan is to build ultra-fine carbonized tungsten powder and super-hard tool products. The current site selection has been confirmed in the Nanchang High-tech Development Zone. The total investment of the whole project reached 150 million yuan, of which foreign investment was 15 million US dollars.

Jiang Chunlin, director of the investment department of Jiangtung Group, told reporters: “Minerals can be stronger and bigger, most of the reason is that profits are concentrated in deep processing. We found the world’s top 500 Japanese Mitsubishi companies also hope to rely on their technical level to drive local Jiangxi. Deep processing capability."

It is reported that according to the Japanese opinion, it is hoped that the final product will be sold to Japan on a large scale. The Chinese side's opinion is that 2/3 is sold in China and 1/3 is sold in Japan. At present, the two sides have not reached a final consensus on the sales market.  

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