deep-processing sectors to expand tungsten, molybdenum resources companies

Phone free access Sealand Securities
Multi-metal mining companies - companies engaged in molybdenum, tungsten, and gold and other rare metals mining ringworm smelting, processing, trade, scientific research, with molybdenum plating mining, milling, roasting, molybdenum chemicals and molybdenum metal processing downstream integration of a complete industrial chain. Currently, the company is the largest global producer of molybdenum ranked fourth, is the largest producer of tungsten. The company established a "molybdenum, tungsten as the main gold and other precious metals for the two wings" development strategy, the future will be formed to tungsten, molybdenum, precious metals pattern of three major industries Kingdoms, so we analyze the investment value of the company will be mainly it focuses on the company's three main business status and future development.

Molybdenum Industry: resource endowments prominent, deep-processing capacity is weak (molybdenum industry profits accounted profits 47%) - Company molybdenum resource reserves account for 13%, compared to the gold molybdenum shares (601,958 shares of it, prices, information, main trading), the company molybdenum industrial chain of production capacity in the main layout flooded molybdenum molybdenum mining and smelting and other primary products, deep processing capacity is weak, the issue of equity investment of 10,000 tons of molybdenum acid project will enhance the company's production capacity of molybdenum chemical sectors.

Tungsten Industry: have benefited from resources, further deep processing sectors advance (tungsten industry profits accounted for 38% of profits) - Tungsten value chain links and resources are mainly distributed in the deep processing of a core technology sectors. Due to resource advantages, the company tungsten related products nearly 78% gross margin, tungsten as a non-renewable strategic metals, is widely used, the current global annual production of more than 80% of tungsten from China, China is gradually through export quotas, tungsten ore mining aggregates control measures have yielded tungsten ore pricing, the price of tungsten long-term bullish, the company is expected to continue to benefit. In addition, the company plans to invest nearly 33 billion yuan into the tungsten processing sectors, despite the lack of core technology, our company projected tungsten processing margin is not high, but the company has the resources, on the one hand can form synergies between businesses, on the other hand You can also improve the industrial chain, to avoid excessive dependence on downstream.