It is reported that Panzhihua Gangcheng Group poured CNY 500 million totally on a 1 million tonnes of iron ore concentrating project that has been started to build on February 14th.

Panzhihua Gangcheng Group grasps two opportunities- the expansion of domestic demand and post-disaster reconstruction to have an access to be a CNY 10 billion enterprises in Sichuan Province.

As per report, the construction will be finished with two phases and the first phase will be completed this August. Besides, the company will promote its annual capacity to 500,000 tonnes of Fe55% iron ore concentrate after the project in stream.

This 1 million tonne iron ore concentrating project will consume and utilize low quality weather able iron ore at Baima Deposit and screen out titanium ore which will advance the integrated utilization of resources and stretch mineral industrial chain.

(Source: Sichuan Daily)