H.C. Starck and Jiangxi Rare Metals Tungsten Holding Group Co. Ltd. (JXTC), one of China’s largest tungsten mine operators, signed two agreements to form a joint venture to produce advanced tungsten chemicals and metal and carbide powders. H.C. Starck will invest approximately $120 million to establish two companies in Ganzhou, China. With an installed capacity of 30,000 tons, both companies will annually produce approximately 10,000 tons of advanced tungsten products for the market by 2012.
Each partner holds the majority share in one of the two companies: H.C. Starck in the manufacturer of tungsten metal powder and tungsten carbide, and JXTC in the manufacturer of ammonium paratungstate and tungsten oxide. According to JXTC, the joint venture will have a positive impact on the world’s refractory-metal industry development. Advanced tungsten products are used as high-performance materials in a variety of different growth industries, as an alloy metal and for components in the aerospace and medical engineering industry.
H.C. Starck Agrees to China JV
June 8, 2011