LB Group plans to jointly invest a total of RMB400 million to establish two vanadium industry related subsidiaries
2022-07-27 16:36:54 [Print]
LB Group announced on July 25 that, to improve the comprehensive utilization value of the company's Panzhihua vanadio-titanomagnetite deposit and promote the company's vanadium extraction industrialization from iron ore concentrate, it plans to jointly invest RMB200 million (USD29.57 million) with its wholly-owned subsidiary, Longbai Sichuan Mining and Metallurgy Co., Ltd. to establish Longvanadium Technology Co., Ltd. in Panzhihua. In particular, LB Group will invest RMB60 million (USD8.87 million), holding 30% shares of Longvanadium Technology, with Longbai Sichuan Mining and Metallurgy to invest RMB140 million (USD20.7 million), holding 70% shares of the new company. Meanwhile, to grasp the development opportunities in titanium industry and realize the long-term planning of titanium business, LB Group's holding subsidiary, Yunnan National Titanium Metal Co., Ltd. plans to invest RMB200 million (USD29.57 million) to establish Sichuan National Titanium Metal Co., Ltd. in Panzhihua.
Ilmenite Conc TiO2 50%min; Fe 30%min; In port China
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China titanium tetrachloride producers' sales to production ratio statistics by province by month
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