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TISCO joint venture nickel mine production in Myanmar

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The reporter from the Taiyuan Iron and Steel Group was informed by the China Nonferrous Metals Group and the construction of a joint venture of TISCO Dagon Hill nickel project in Myanmar mining system officially put into operation. The mine will provide an annual 85,000 tons of high grade nickel-iron, will effectively improve TISCO control of strategic resources and alleviate the shortage of China's nickel resources.

    As the most important raw material in stainless steel production, nickel in the production of a large percentage of the cost. In general, the production cost can be accounted for seven of stainless steel as above. Nickel belongs to the global scarcity of strategic resources, and nickel resources in China is also very short, production can only meet the domestic demand of around 30%. As the world's largest stainless steel manufacturer, Taiyuan Iron and Steel Group, at least 10 million tons per year of nickel metal. Dagon Hill nickel mine in Burma, its high-grade nickel ore reserves amounted to 3,000 million tons, 700,000 tons of nickel metal. The development of the mine for TISCO stainless steel industrial development and the country has a great role in promoting.

    It is understood that the total investment over 800 million U.S. dollars, the service life of 20 years, the production of nickel-iron 85,000 tons, 22,000 tons of nickel metal. With mine production system, smelting system will also be put into operation during the year.

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