China VTM Mining expects to see losses narrowing to RMB850 million in 2016

China Vanadium Titano-Magnetite Mining Company Limited (“China VTM Mining” or the “Company”) predicted on March 12th that its annual losses will narrow to RMB850 million at most in 2016, lower than the net losses of about RMB1.Asian Metal CopyrightChina Vanadium Titano-Magnetite Mining Company Limited “China VTM Mining” or the “Company” predicted on March 12th that its annual losses will narrow to RMB850 million at most in 2016, lower than the net losses of about RMB1.Asian Metal Copyright105 billion in 2015.

The main reasons for the company’s net losses in 2016 was that its production rate was lower than the maximum utilization rate; prices and sales for iron ore products kept at low levels due to excess capacity of downstream crude steel; as well as the influence of impairment loss.

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