It is reported that Jinduicheng Molybdenum Co Limited may suspend operation as of August 7th 2008 for equipment overhaul and will recover production from August 25th 2008.

As per report, the venture was funded on May 16th 2007 jointly by Jinduicheng Molybdenum Group, Taiyuan Iron & Steel Group, Ningxia Orient Non ferrous Metals Group and Baosteel Group.

It earlier started prospecting in Ruyang County in 2004 and found a molybdenum reserve of some 700,000 tonnes a super sized deposit in the world.

(Sourced from MySteel.net)