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Major matters of China refractory industry: SASAC of Haicheng intends to establish China Magnesite Mining Co.,Ltd. , which is expected to control 80% of the national production

August 04,2017      views

On July 31st night, Puyang Refractories Shares (a publicly listed company on the Shanghai Stock Exchange, 002225) announced that SASAC of Haicheng, Liaoning province intends to initiate the establishment of China Magnesite Mining Co.,Ltd. (or "Liaoning Magnesite Mining Co.,Ltd. "), aimed at accelerating the effective integration of magnesite mineral resources in Haicheng city, insisting to the green, intensive, efficient and sustainable development as well as enhancing magnesite Industry's dominance in domestic and overseas markets. With the total registered capital of 2 billion yuan, Haicheng SASAC will represent for Haicheng Magnesite Mining Factory takes the stake not less than 51%, Haicheng Linli Mining Company, a wholly owned subsidiary of Puyang Refractories Shares, will also take the share in its original start of the new company.

 In the past, due to dispersion of magnesite mining right, irregular mining, some environmental problems in magnesia processing enterprises, the price of magnesite and magnesia has been in a low level relatively in recent years.

  As one of the main raw materials of magnesia, magnesite is a stragetic resource Puyang Refractories Shares always keeps eyes on.  In 2011, Puyang Refractories Shares take the mining right of a large magnesite field in Haicheng by purchasing Linli Mining Company. It has been the raw materials base of Puyang Refractories.

If the China Magnesite Mining Co.,Ltd. can come true in the end, it will change the old magnesite resources supply regulation effectively,  stabilize magnesia raw materials supply and demand expectations and finally promote the development of the whole industry chain of refractories.

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