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Zhongxiang City, known as the "hometown of phosphate rock," is rich in phosphorous resources. Its reserves of phosphorite reserves are 800 million tons, of which 280 million tons are available. The annual exploitation of 3 million tons ranks second in Hubei Province. Zhongxiang City will use this resource advantage to focus on the development of phosphate rock industry and strive to achieve sales revenue of the industry that will exceed 10 billion yuan by 2012.
It is understood that Zhongxiang City's phosphorus mining industry realized sales revenue of 5.84 billion yuan in 2008, accounting for 45.8% of the city's industry. In order to make the advantageous industries bigger and stronger, Phosphorus Mining of Zhongxiang City took full advantage of the state's taxation and reduction of phosphate fertilizer products such as diammonium phosphate. Relying on the advantages of phosphate rock resources, the company began to establish phosphate smelting and coal mining as a whole by introducing major construction projects. Ten billion industrial clusters through the integration of resources, order rectification, project construction to promote the gradual development of phosphate resources to the dominant enterprises to form a number of leading companies in the phosphate industry cluster. At present, in Zhongxiang City, there are 27 chemical enterprises with large-scale above-scale phosphate mining enterprises and 27 companies with sales of 100 million yuan and 10 companies with sales of 1 billion yuan.
Zhongxiang phosphorous mining industry increased nearly 40%
According to statistics from the National Tax Bureau of Zhongxiang City, Hubei Province, from January to July this year, the value-added tax of the phosphorous industry in the city was RMB 41.44 million, which represents a year-on-year increase of 27% and accounted for 26.7% of the city's total tax revenue. Among them, 38.36 million yuan in value-added tax for the petrochemical mining industry increased by 39.1% year-on-year, while the value-added tax for the phosphorus mineralization industry went down by 39.3% year-on-year.