Milestones

  • 2004

    Sichuan Chuanwei Group Co., Ltd. ("Chuanwei") acquired 100% equity interest in Huili Caitong and became the owner and operator of the Baicao mine.

    Huili Caitong acquired a 95% interest in Xiushuihe Mining and became the owner and operator of the Xiushuihe mine.

  • 2005

    Iron pelletising plant commenced operation.

  • 2007

    The Group obtained an ISO 9001: 2000 certificate from CCIC Conformity Assessment Services Co., Ltd. for its quality management system.

  • 2008

    A new production line with an annual capacity of 300.0 Ktpa at the Baicao processing plant launched, increasing the total production capacity to 500.0 Ktpa of iron concentrates and 80.0 Ktpa of medium-grade titanium concentrates.

  • 2009

    The Group obtained a two-year exploration permit to conduct exploration activities in the adjacent areas to the west of the Xiushuihe mine, which increased the total resources of the Group by 78.2 mt.

  • 2010

    Acquired two mines of the Yangqueqing mine and the Cizhuqing mine and two processing plants of the Hailong processing plant and the Heigutian processing plant.

  • 2011

    Completed the construction of Xiushuihe new processing plant which has an additional production capacity for iron concentrates of 300.0 Ktpa and high-grade titanium concentrates of 60.0 Ktpa.

    New production line in the Baicao processing plant started operation and increased the production capacity of high-grade titanium concentrates by 40.0 Ktpa.

    Tapped into offshore strategic resources in Indonesia through an exchangeable note to secure stable supply of vanadium-bearing iron concentrates and help the Group to extend its business to eastern coastal area of the PRC.

    Completed the first phase of new iron pelletising plant located in Ailang Townlet and increased production capacity by 1,000.0 Ktpa.

    Acquired two mines of the Maoling mine and the Yanglongshan mine and one processing plant of the Maoling processing plant.

    Entered into a cooperative agreement in relation to establishing a joint venture for the development of the Dashanshu section of the Pingchuan mine.

    Entered into an acquisition agreement to acquire Panzhihua Yixingda Industrial Trading Co., Ltd. (which owns the exploration right of the Haibaodang mine)

  • 2012

    Obtained China standard reserves report for the Maoling extended exploration area and the Yanglongshan mine. The Maoling mine together with the Maoling extended exploration area has a 333+ resources of 47.8 mt, with a grade of 24.3% while the Yanglongshan mine has a 333+ resources of 22.5 mt, with a grade of 21.6%.

  • 2013

    Based on the results of the preliminary survey conducted by the Geochemistry Exploration Brigade of Sichuan Bureau of Exploration and Development of Geology and Mineral Resources (四川省地質礦產勘查開發局化探隊), there may exist economically mineable niobium and tantalum ore resources at the Baicao mine. To better reserve these resources, the Group decided to adjust its normal mining operation after acceptance of the recommendations given by the Sichuan Geochemistry Exploration Team.

    Disposed of the old iron pelletising plant which commenced operation in 2005 to an independent third party. The Group expected that the new iron pelletising plant which commenced operation in 2011 would be able to meet the customers’ needs.

  • 2014

    Decided to voluntarily wind-up the joint venture established for the development of the Dashanshu section of the Pingchuan Mine due to uncertainty on the timing to obtain the necessary mining permit for its operation and additional expenses would incur to reach commercial production.

    The two independent research institutes had concluded in their reports that the niobium and tantalum ore resources cannot be economically recovered from the ore at the Baicao mine. The board has decided to terminate the exploration work and resumed normal mining two months earlier than planned.

  • 2015

    Completed acquisition of the Haibaodang Mine.

    Completed acquisition of the Shigou Gypsum Mine.

  • 2016

    Entered into Sales and Purchase Agreement with Sapphire Corporation Limited (“Sapphire Corporation”) to purchase 49% equity interest in Mancala Holdings Limited, a then wholly-owned subsidiary of Sapphire Corporation, at an aggregate consideration of HK$38.2 million.

  • 2017

    The acquisition of 49% equity interest in Mancala Holdings Limited was completed.

    Further completed the acquisition of the sale shares representing 32% of the entire issued share capital of Mancala Holdings at an aggregate consideration of HK$25 million.