Lomon Billions signs strategic framework agreement with Panzhihua Government and plans to invest 14 billion RMB (USD 2 billion) in mining operations in Panzhihua City

Categories: Industry News, Lomon Billions China
Posted on: July 9, 2020 8:22 am

Jiaozuo, 7 July 2020: On 6th July, Lomon Billions signed a strategic framework agreement with the Panzhihua Government in China to develop and process the region’s vanadium-titanium magnetite resources.

Over the next 5 years, the company plans to invest 14 billion RMB (USD 2 billion) in a large-scale development project to help transform vanadium-titanium magnetite mining technology and expand mining operations in Panzhihua City.

The mines will produce ilmenite for chloride slag, a vital raw material for the manufacture of Lomon Billions’ chloride-process titanium dioxide pigment, titanium sponge and titanium alloy products.

The investment is consistent with the company’s strategic plans to grow its business and strengthen its competitiveness through vertical and horizontal integration.

Ends

 

Press & PR Contact

Lomon Billions European HQ

Julie Reid
Marketing Director
Lomon Billions
Winder House
Kingfisher Way
Stockton-on-Tees
TS18 3EX
United Kingdom

Tel +44 (0)1642 692750
Email juliereid@lomonbillions.global

Company Information

Lomon Billions is listed on the Shenzhen Stock Exchange – Shenzhen:002601
Terms & Conditions  /  Cookies Policy  /  Privacy Policy

Follow us on