China's Magnesium Industry Attracts Foreign InvestorsNorthwest China's Ningxia Hui Autonomous Region, one of the three major magnesium production bases in China, is attracting more and more foreign investors.Magnesium researchers and manufacturers from many other countries including the United States, France, Australia, Britain, Germany, Canada and Japan have come to the region recently to conduct investigations and seek cooperation opportunities. A company from Norway plans to cooperate with Ningxia to produce and process magnesium products. A joint venture between Ningxia and Japan now produces 2,000 tons of magnesium a year, making it one of the three leading magnesium enterprises in China. Ningxia is rich in coal and natural gas resources and has a huge reserve of dolostone, a key material for processing magnesium. Dry climatic conditions in the region is also favorable for producing the metal, according to experts. At present, Ningxia has 14 magnesium production enterprises, which produce more than 11,700 tons of magnesium annually, or one-tenth of the national total. Some 90 percent of the region's magnesium output are exported to over 20 countries and regions such as the United States, Germany and Japan. Ma Junting, vice-chairman of the regional government, said that Ningxia's magnesium export value is expected to exceed 20 million U.S. dollars this year and reach US$40 million next year. Magnesium has been widely used in handsets, laptop computers, small video-cameras and other electronic industrial products nowadays. The world's total output of magnesium for 2000 was more than 470,000 tons. China now has more than 300 magnesium producing enterprises, which produce 120,000 tons of magnesium annually. China exports nearly 100,000 tons of magnesium each year. |
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