Mitsui Mining to Build Precious Metal Recycling Plant in Shanghai
Posted on: Tuesday, 31 January 2006, 18:00 CST
Tokyo, Jan. 31 (Jiji Press)--Japan's Mitsui Mining & Smelting Co. said Tuesday it will build a precious metal recycling plant in Shanghai.
The plant, whose operations will start in January 2007, will collect substrate wastes and waste liquid that contain precious metals, melt them and extract gold or silver from them. The recycled metals will be sold to local firms such as electronic parts makers.
For operating the recycling plant, Mitsui Mining will establish a new company in April jointly with a Shanghai-based nonferrous metal recycling firm. Capitalized at 3.5 million dollars, the joint venture will be 80 pct owned by Mitsui Mining.
Capital spending on the construction of the new plant will total 390 million yen. The plant will process around 5,000 tons of precious metal scraps a year for the time being.END
Source: Jiji Press English News Service
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