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Shaanxi Nonferrous Metals Metallurgy & Mining Group was Inaugurated

On February 27, the founding meeting & inauguration ceremony of Shaanxi Nonferrous Metals Metallurgy & Mining Group Co., Ltd were held at Xi An Embassador International Hotel. This marked another strategic measure by Shaanxi Nonferrous Metals Holding Group in its efforts of emphasizing structural adjustment, quickening the pace of system revamping, and extending nonferrous metals industrial chain in recent years.

Zhou Shunian, Deputy Director of Shaanxi Province State-owned Assets Supervision and Administration Commission, Chairman Huang Xiaoping, General Ma Baoping and Director Zou Wuzhuang of Shaanxi Shaanxi Nonferrous Metals Holding Group, Chairman Wang Tianxiong and General Manager Ma Yongning of Shaanxi Nonferrous Metals Metallurgy & Mining Group, together unveiled the plaque for the company.

Jointly invested and established by Shaanxi Nonferrous Metals Holding Group and Baoti Group, with a registered capital of 400 million yuan, Shaanxi Nonferrous Metals Metallurgy & Mining Group has 6 subordinate enterprises including Ningqiang Manganese Mine, Zhenba Qujiashan Manganese Mine, Ziyang Xianggui Manganese Industry Company, Yang County Vanadium-titanium Magnetite Mine Company, Shaanxi Shenghua Smelting & Chemical Industry Co., Ltd, and Brazil Manganese Congonhal Company; it is a state-owned large to mid sized cross-trade and cross-region enterprise group with diversified operation, and also a key platform for constructing metallurgical new material industrial park in Hanzhou city with planned investment of 10 billion yuan following Shanxi Nonferrous Group’s acquisition and restructuring of Yang County Vanadium-titanium Magnetite Mine resources. The new Group will progressively construct 3,000,000 t/a iron ore refined and 400,000 t/a Titanium powder production line, meanwhile it will also manufacture sponge iron, premium iron powder reduced, sheet Vanadium, sponge titanium and titanium powder products, develop 10 billion yuan output value size, and create new industrial cluster and supporting industries.

Furthermore, in the past one year, Qinghai also reaped bumper harvest in petroleum & natural gas prospecting, and hot dry rock (HDR) prospecting, it newly added 67 million tonnes of petroleum, and newly added 21 billion cubic meters of natural gas; in Gonghe County and Guide County it respectively drilled 181.7°C and 151.3°C HDR, walking in the forefront nationwide in this field.

“The newly discovered resource volume has an estimated value of over 400 billion yuan.” Zhu Xiaochuan said, in 2015 Qinghai would adhere to the prerequisite of “Eco preservation first”, continue to drive forward prospecting breakthrough strategic actions, and strive to complete 2 billion yuan above of geological prospecting investment.