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Discovery of world's largest tungsten mine sends Chinese stocks skyrocketing

Cecilia Jamasmie | June 06, 2012 | 1:34 pm Energy Asia China Europe 

Shares of China's tungsten companies climbed on Wednesday after the country’s Ministry of Land and Resources announced the discovery of the world's largest tungsten mine in the east province of Jiangxi. Lifted by the news, shares in Chongyi Zhangyuan Tungsten Co. soared by the daily 10% limit to 33.39 yuan ($5.27), while Minmetals Development Co. shares went up 4.35%  to 26.36 yuan ($4.13) and Chenzhou Mining GroupCo. added 3.35% to 20.69 yuan ($3.24). According to China.org, Jiangxi Geology & Mineral Resources Exploration & Development Bureau...

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