Xiamen Tungsten issued a statement on June 7 denying that it has a controlling stake in the company that have discovered the world's largest tungsten mine in southeast China's Jiangxi province, worth an estimated 300 billion yuan (US$47.15 billion).

Xiamen Tungsten's statement rebutted the article's claim that Xiamen Tungsten owned a stake in Jiangxi Jutong, the owner of the rights to the newly discovered mine.

According to Xiamen Tungsten, the article probably mistook the company for Xiamen Sanhong, another Xiamen-based firm which holds a 30% stake in Jiangxi Jutong, since Xiamen Tungsten's chairman is also a member of Xiamen Sanhong's board.

The primary shareholder of Jutong, Xiamen Tungsten said, is the Beijing-based Judian Investment, which controls a 53% stake in the Jiangxi company.

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With two tungsten projects slated for production within the next few weeks, Vietnam is set to play a more significant role in the tungsten market.

With its 60-percent stake, Hazelwood Resources possesses the majority interest of Asia Tungsten Products, which owns ATC, a new ferrotungsten refinery in Vihn Bao. Hazelwood hopes to eventually become a vertically integrated ferrotungsten producer and is set to take a major step toward achieving that goal by bringing ATC online.

Terry Butler-Blaxell, managing director, said the resource protection measures implemented in China since 2008, especially the 20 percent export tariff on ferrotungsten, have impacted supply. Therefore, an ex-China source is expected to be well received.

ATC is expected to be the largest most advanced ferrotungsten plant outside of China. At stage one the refinery will have an annual maximum capacity of about 4,000 metric tons (MT). Hazelwood is expecting to reach one third of that capacity this year and to ramp up to producing at over half of the maximum capacity in 2014.

Having only a refinery means Hazelwood has to rely on the market for feedstock. The company has already sourced and contracted about 100 MT of concentrate per month.

Hazelwood plans to start commissioning after Easter and move toward first production by the first week in April. The first shipment of material is expected in April, driving the company’s expectations that it will record revenue next month.

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Tungsten-copper is used to make composite materials for heat sinks in computers and other electronic devices. The materials can be mounted to computer chips or ceramic bases.

Tungsten-copper materials conduct heat efficiently without the excessive expansion that would present problems when mounted to other materials. Copper by itself has high thermal expansion properties, making it unsuitable for such applications unless combined with a material such as tungsten.

Tungsten and copper do not form an alloy because their melting temperatures are very different. The composite material is instead made by mixing metal powders. They are then heated and injected into a mold for heat-sink manufacture.

Heat sinks are used to conduct heat away from computer chips and integrated circuits, preventing thermal damage. Depending on the electronic device, heat sinks come in different sizes and shapes. Tungsten-copper composites, with copper content (by weight) of 15 to 20 percent, are often used to make heat sinks.

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Current tungsten concentrates price is between 82,000 and 84000 yuan per ton. As a manufacturer in Jiangxi province said, tungsten mine is sold at 83,000 yuan per ton (about 60%) in his company. Another manufacturer said that 60% of the price of its tungsten ore was 82,500yuan per ton, with transaction volume of about 40 tons. A miner in Yunnan province said 55-65% of its tungsten is sold at 8.2 yuan per ton recently , with transaction volume of 80 tons.

A purchaser in Jiangxi province said 55-65% of its recent purchase price of tungsten ore was 82,500 yuan per ton. The manufacturers signed orders for powder in early June. Another buyer said that he bought 20 tons of tungsten concentrate from Hunan province at 83,500yuan per ton. The manufacturer said that the offer of mine operators in the region was 84,000 yuan per ton.

Currently tungsten concentrate market keeps steady, and the prices there will not fluctuate over 1000 yuan per ton in the short term.

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