On July 16, 2012, the Wolfram product processing project which was invested by China Hunan Wolfram Co., Ltd. with 700 million yuan was inaugurated in Sumsung Industrial park of Rucheng economy development zone. This new start witnessed a new stage of Rucheng county in upgrading wolfram comprehensive utilization, extending industry chain and propelling mineral fine processing industry improvement.

Rucheng county abounds in sand mineral resources, famous as “hometown of nonferrous metals”. 30 kinds were with proven deposits. The trade volume of wolfram accounts for 1/4 of the whole nation. This newly launched wolfram product processing project was one of the ten great industry projects and great investment attraction projects confirmed by Rucheng county in the early of 2012. It was learned that the first session of this project has 772.90 million yuan total investment. It is estimated that the annual output value is 1.5 billion yuan and the highest tax paid can reach 170 million yuan , solving more than 350 local jobs .

Municipal leaders Liu Guangming, Chen Fangmin, He Jianxiang and Duan Tailin were present at the inauguration ceremony.