NDRC approves Pangang's vanadium and titanium development plan
Shanghai. March 24. INTERFAX-CHINA - Panzhihua Iron Steel Group (Pangang) has received approval from the National Development and Reform Commission (NDRC), China's state economic planner, to develop vanadium and titanium resources in Sichuan Province, according to an NDRC announcement on March 23.
The resources are located in the cities of Panzhihua, Chengdu and Xichang, the announcement said.
Pangang has also been given the go ahead to restructure its steel business and expand company mines. The company hopes to increase annual production capacity by 10 million tons for raw ores, 2.84 million tons for iron ore concentrate, 500,000 tons for titanium concentrate, 200,000 tons for titanium dioxide, 15,000 tons for titanium sponge and 22,000 tons for vanadium products, the announcement said.
The NDRC has prioritized the development of China's vanadium and titanium industry throughout the 12th Five-Year Plan (2011-2015), Interfax previously reported.
- KHM
