CHTI Signs Investment Attraction Framework Agreement With Hami

CNNC Huayuan Titanium Dioxide Co., Ltd. (CHTI) announced on May 4 that the company signed an investment attraction framework agreement with the municipal government of Hami. The agreement indicates that the government of Hami will support CHTI to integrate mining and concentrating enterprises in the Weiya area for further investment in construction of green and intelligent mines. Supported by the government of Hami, CHTI will invest RMB1.2 billion (USD174 million) to build a comprehensive utilization project on tailing slags and Hami low-grade vanadium-titanium magnetite to form an annual production capacity of 600,000t of titanium concentrate and 700,000t of iron powder.

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