Investments in Mining & Resource-Related Businesses
The Group's Investment Entities
- China Vanadium Titano-Magnetite Mining Company Ltd ("China VTM") (9.2% directly-held entity)
HK-listed China VTM (stock code: HK 0893) holds the concessions to two iron ore mines located in Sichuan's Panzhihua iron-ore belt. It is one of the largest iron ore producers in Sichuan. Principal activities include mining, ore processing, iron pelletising and sale of iron pellets, iron ore concentrates, and titanium concentrates. It supplies part of the Group's raw material for steel production, lending a critical stability element in the Group's supply chain. - Neijiang Bowei Fuel & Chemical Co., Ltd ("Bowei")(11.20% indirectly-held entity)
Bowei produces coke from coal with an annual capacity of 1.2 million tonnes. All the coke produced by the plant is supplied to WeiYuan, which is located on the same premises, for steel making. The gas produced as by-product from coke-making is converted to electricity and sold to the local grid. - Weiyuan Steel Co., Ltd ("Weiyuan")(11.73% indirectly-held entity)
Weiyuan is one of Sichuan's largest privately owned iron and steel-making companies with an annual production capacity of 2 million tonnes of crude steel, which are further processed into semi-finished steel slabs and finished products such as rebars and wire coils. Weiyuan also recovers vanadium slag during steel production process. Steel slabs and vanadium slag are supplied to Special Steel as raw material for further processing into HRC and V2O5 flakes. Weiyuan shares the same premises with Special Steel and Bowei.