Huihong Mining and Fengyuan Vanadium sign vanadium resources cooperation agreement
2023-09-14 11:50:57 [Print]
On September 13, Dunhuang Huihong Mining Development Co., Ltd. and Shaanxi Fengyuan Vanadium Technology and Development Co., Ltd. entered into a cooperation agreement to expand their market shares in vanadium resources industry and increase business value. Under the agreement, Fengyuan Vanadium will preferentially purchase vanadium pentoxide from Huihong Mining through a five-year sales contract effective from September 13, 2023 to September 12, 2028.
Huihong Mining's phase one 3,000tpa high-purity vanadium pentoxide production line is expected to achieve annual sales revenue of around RMB370 million (USD50.75 million), and the phase two project would bring the total production capacity to 6,000tpa, with annual sales revenue to reach nearly RMB750 million (USD103 million).
Fengyuan Vanadium mainly produces vanadium nitride and other vanadium products, with an annual production capacity of 10,000t of vanadium nitride, equivalent to annual demand for 14,200t of vanadium pentoxide.
Huihong Mining's phase one 3,000tpa high-purity vanadium pentoxide production line is expected to achieve annual sales revenue of around RMB370 million (USD50.75 million), and the phase two project would bring the total production capacity to 6,000tpa, with annual sales revenue to reach nearly RMB750 million (USD103 million).
Fengyuan Vanadium mainly produces vanadium nitride and other vanadium products, with an annual production capacity of 10,000t of vanadium nitride, equivalent to annual demand for 14,200t of vanadium pentoxide.
Vanadium Pentoxide Powder 99%min EXW China
Unit:RMB/mt
China vanadium pentoxide powder producers' inventory to production ratio statistics by province by month
Unit: %
