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Group Profile
Group Structure
Milestones
The Board of Directors
   and Senior Management

 
 
 

 
 

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 Stock Exchange since 8 October 2009. The Group was 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 five vanadium-bearing titano-magnetite mines (namely the Baicao Mine, Xiushuihe Mine, Yangqueqing Mine, Cizhuqing Mine and Haibaodang Mine), one ordinary iron ore mine (namely the Maoling-Yanglongshan Mine), one gypsum mine (namely the Shigou Gypsum Mine), five processing plants (namely the Baicao Processing Plant, Xiushuihe Processing Plant, Hailong Processing Plant, Heigutian Processing Plant and Maoling Processing Plant), and one iron pelletising plant. All mines are located in Sichuan, a region with the most abundant vanadium-bearing titano-magnetite resources in China.

On 30 December 2016, the Company has entered into the sale and purchase agreement with Sapphire Corporation, pursuant to which Sapphire Corporation has conditionally agreed to sell and the Company has conditionally agreed to purchase the 2,940,000 shares, representing 49% of the entire issued share capital of Mancala Holdings, a then wholly-owned subsidiary of Sapphire Corporation, at an aggregate consideration of HK$38,200,000. The acquisition has been completed on 28 February 2017. Moreover, on 29 September 2017, an agreement has been reached for the Group to purchase the sale shares representing 32% of the entire issued share capital of the Mancala Holdings at an aggregate consideration of HK$25,000,000, which has been completed on 1 December 2017. Upon completion, the Company owns 81% of the share capital of Mancala Holdings.

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.