After investigation, Hebi Coal Group has invested 60 million yuan and acquired 100 percent share ownership of Shaanxi Xinshan Mining Co., Ltd. and its Exploration right to "broad-survey to the copper and molybdenum polymetallic mine in Luonan County of Shaanxi Province - Wang Jiaping of Huaxian County". The prediction molybdenum ore reserves of the exploration area is 9.335 million tons, with annual output of 1 million tons of ore, and further geological prospecting can be expected. According to the development ideas that focus on developing the industrial chain of "molybdenum mine →molybdenum ore→molybdenum powder and related products on the basis of molybdenum mine", further primary and detailed investigation in the exploration area is underway; the preparatory work has proceeded smoothly. The total investment of the planning is 520 million yuan. The operating revenue is estimated to be 1.9 billion yuan and profits 180 million yuan after reaching design capacity in 2011. We are now seeking joint venture partners to develop the project.