Chuanfa Lomon plans to bid for shares in Chonggang Mining

　　On July 20, Chuanfa Lomon announced that the company intends to obtain a 49% stake in Chongqing Iron and Steel Mining held by Yufu Group through public delisting, and indirectly obtain Chongqing Iron and Steel Xichang, a holding subsidiary of Yufu Group.
Its Taihe Iron Mine vanadium titanomagnetite resource rights
.
The listed reserve price of the target of this transaction is about 1.
683 billion yuan, and Chuanfa Lomon has paid a deposit of 200 million yuan on July 20
.

　　Chuanfa Lomon said that the core asset of Chonggang Mining in this transaction is Taihe Iron Mine.
Its existing reserves of vanadium titanomagnetite are 100 million tons and the prospective resources are considerable.
At the same time, it is processing a production scale of 10 million tons per year.
mining license
.
This investment is expected to obtain the rights and interests of high-quality vanadium-titanium-magnetite resources in Sichuan Province, make up for the shortcomings and deficiencies of Chuanfa Lomon in the field of vanadium-titanium-magnetite resources, and then improve the company's mineral resource allocation
.