According to Chinese media reports, in a new round of prospecting operations, a large molybdenum deposit was discovered in Chifeng City, Inner Mongolia Autonomous Region, with a preliminary proven molybdenum resource ore amounting to approximately 100 million tons.

It is understood that the exploration work began in May 2023. At present, it has been preliminarily proven that the molybdenum resource ore amount is about 100 million tons, and the metal amount is 130,000 tons, which means that the molybdenum ore body is accompanied by silver, gold, zinc, lead, copper, and other metal minerals.

Chifeng Gengjin Mining Co., Ltd., which discovered the deposit, plans to conduct further exploration and development of its mining area and is expected to form a large-scale non-ferrous metal development and utilization resource base within 5 years.