Anning Iron & Titanium plans fundraising for two projects
2026-06-01 16:31:53 [Print]
Sichuan Anning Iron and Titanium Co., Ltd. unveiled a draft plan for public convertible bond issuance. The company aims to raise no more than RMB2.5 billion (USD369 million), which will be allocated to the Duiqinggou tailing pond project, a titanium processing project in Changzhou and working capital supplement.
With a total investment of RMB1.257 billion (USD186 million), Duiqinggou tailing pond project will receive RMB1.163 billion (USD172 million) from the raised funds. Located in Deshi, Miyi, Panzhihua, Sichuan, the tailing pond has a total storage capacity of 113.37 million cubic meters. It will satisfy the long-term tailings stockpiling demand of the company's Panjiatian Iron Mine.
Undertaken by the company's holding subsidiary Anning (Changzhou) New Materials Co., Ltd., the non-ferrous metal rolling, slitting, warehousing and logistics project (Phase I) requires a total investment of RMB1.077 billion (USD159 million), including RMB715 million (USD106 million) of the raised capital. Upon full operation, it will deliver an annual output of 40,000 tons of cold-rolled titanium products. The initiative helps improve the company's integrated industrial chain from titanium ore to finished titanium materials and strengthens its processing capacity for high-end titanium products.
A total of RMB622 million (USD92 million) from the fundraising will also be used to replenish working capital, so as to optimize the capital structure and ease financial pressure brought by business expansion.
With a total investment of RMB1.257 billion (USD186 million), Duiqinggou tailing pond project will receive RMB1.163 billion (USD172 million) from the raised funds. Located in Deshi, Miyi, Panzhihua, Sichuan, the tailing pond has a total storage capacity of 113.37 million cubic meters. It will satisfy the long-term tailings stockpiling demand of the company's Panjiatian Iron Mine.
Undertaken by the company's holding subsidiary Anning (Changzhou) New Materials Co., Ltd., the non-ferrous metal rolling, slitting, warehousing and logistics project (Phase I) requires a total investment of RMB1.077 billion (USD159 million), including RMB715 million (USD106 million) of the raised capital. Upon full operation, it will deliver an annual output of 40,000 tons of cold-rolled titanium products. The initiative helps improve the company's integrated industrial chain from titanium ore to finished titanium materials and strengthens its processing capacity for high-end titanium products.
A total of RMB622 million (USD92 million) from the fundraising will also be used to replenish working capital, so as to optimize the capital structure and ease financial pressure brought by business expansion.
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