Sichuan Steelmaker to Process Iron Pyrites

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Researched by Industrial Info Resources (Sugar Land, Texas)--Panzhihua Steel and Iron (Group) Corporation (PanSteel) (Panzhihua City, Sichuan Province) signed an agreement with the government of Xingwen County of Yibin City and Jinwei Industrial Group Company Limited (Xingwen) to develop an iron-pyrites mine and related chemical factories in Xingwen.

According to the agreement, Phase I of the project will include a 1 million-ton-per-annum (TPA) mining and dressing system and related equipment, and produce 300,000 tons of high-grade sulfur concentrate every year. Phase II will double the mining and dressing capacity. The partners may establish a product chain and sulfuric acid factory after Phase II to make the most of the waste from steel production.

PanSteel will invest about $81.1 million and $108.1 million, respectively, in the phased constructions. The three sides will set up a company with registered assets no less than $27 million to manage the construction.

Xingwen County has diversified mineral resources in which the iron pyrites deposit amounts to 910 million tons.

Chengdu Daily, the local mouthpiece, reported this month that Sichuan has found four large mines with 1.3 billion tons of coal and 700 million tons of iron pyrites after unfinished investigation.

PanSteel borders Sichuan and Yunnan provinces, producing 5.25 million tons of iron, 5.3 million tons of steel and several other kinds of products ranging from rolled steel to titanium pigment.

It is the biggest producer of vanadium and titanium products and rails in China and one of the world's largest vanadium-related product producers.

Jinwei is a private enterprise specializing in iron-pyrites mining and fine chemicals, including industrial sulfuric acid and cation exchange resin in Xingwen County.

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