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Huge demand lures Shentong into limestone
By Fu Chenghao |
June 1, 2009, Monday
|
Print Edition
Print Edition
SHENTONG Express, a private-sector delivery firm in China, plans to spend nearly 250 million yuan (US$36.6 million) to develop a limestone mine in east China.
In December, the company acquired a mining license for 117 million yuan through a public tender to develop the mine, estimated to hold reserves of 10 million tons, in Jiande, Zhejiang Province, for a 10-year period, according to Shentong.
The license fee is included in the total investment.
Shentong set up a subsidiary, Junxiang Mining, in late May for the mining operations. The firm aims for the mine to have an annual production capacity of 500,000 tons to 600,000 tons in three years. It said it invested in this business because demand for limestone is huge in China.
Limestone can be added to plastics, rubber, paper and ceramics, among others.
In December, the company acquired a mining license for 117 million yuan through a public tender to develop the mine, estimated to hold reserves of 10 million tons, in Jiande, Zhejiang Province, for a 10-year period, according to Shentong.
The license fee is included in the total investment.
Shentong set up a subsidiary, Junxiang Mining, in late May for the mining operations. The firm aims for the mine to have an annual production capacity of 500,000 tons to 600,000 tons in three years. It said it invested in this business because demand for limestone is huge in China.
Limestone can be added to plastics, rubber, paper and ceramics, among others.
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