Panzhihua Gangcheng Group is to spend CNY 500 million on a 1 million tonne iron ore concentration project. Construction began on February 14th. The group is using the project as part of a response to increased domestic demand and to tap into a CNY 10 billion post-disaster reconstruction fund in Sichuan Province.
Construction will be in two phases with the first phase will be completed this August. This first phase will increase its annual capacity to 500,000 tonnes of Fe55% iron ore concentrate.
The project will consume and utilize low-quality weather-able iron ore at the Baima Deposit and screen out titanium ore which will advance the integrated utilization of resources and stretch out the mineral industrial chain.
Source: Sichuan Daily
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