Group Profile

China Vanadium Titano-Magnetite Mining Company Limited (“China VTM Mining” or the “Company”, together with its subsidiaries, the “Group”, HKEx stock code: 893) has been listed on the main board of the Hong Kong Stock Exchange since 8 October 2009. The Group is principally engaged in mining and ore processing, sale of self-produced products, trading of coals and steels, management of strategic investments, and providing specialist mining services.

The Group now owns one ordinary iron ore mine (namely the Maoling-Yanglongshan Mine), one gypsum mine (namely the Shigou Gypsum Mine) and one processing plant (namely the Maoling Processing Pant). All mines and the processing plant are located in Sichuan, China.

The Group entered into a sales and purchase agreement with Sapphire Corporation on 30 December 2016 for the acquisition of a 49% stake in Mancala Holdings, a then wholly-owned subsidiary of Sapphire Corporation. The transaction was completed in February 2017. The Group further acquired a 32% stake in Mancala Holdings on 29 September 2017. The transaction was completed in December 2017, bringing the Group’s shareholding to 81%.

Mancala Holdings

Established in 1990 in Australia, Mancala Holdings is principally engaged in the business of providing specialist mining services, which include raised boring, shaft excavation, engineering services, and other mining services. It is a major shaft construction provider in East Australia’s mining sector. Outside of Australia, Mancala has completed a robust portfolio of international projects in New Zealand, Papua New Guinea, Fiji, Botswana, Indonesia, and Vietnam.

The acquisition of significant stake in Mancala Holdings supports the Group in evaluating the business feasibility of the sustainable development of the mines, as well as the budget for investment. The Group and Mancala Holdings can jointly explore opportunities for strategic collaborations, joint mines development, and increase the use of innovative mining methods. The management will take reference from Mancala Holdings’ mining experts on the feasible development of mines, to improve the assets utilisation of the Group.