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The world’s largest mine: Kuncai scores another victory.
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Release Date:
2024-08-28
On August 5, 2024, Kuncai Technology, the Zhangzhou Municipal Bureau of Commerce, and International Resources Co., Ltd. signed a Letter of Intent for an Investment Framework Agreement on the Vanadium-Titanium Resource Base Project in Johannesburg, South Africa. Recently, the project has made substantial progress: Kuncai Technology and International Resources entered into a Cooperation Agreement on August 27, 2024.
Going forward, Kuncai Technology will partner with International Resources to establish a joint venture, leveraging the resources of the Mapochs mine in South Africa acquired by International Resources Co., Ltd. Moreover, capitalizing on the port facilities in Zhangzhou City, the company will import the raw materials it requires and conduct local R&D and manufacturing activities related to these materials.
As the world’s largest single‑mine operation with the highest vanadium grade, the Mapochs mining project is expected to achieve an annual throughput of 10 million tonnes by 2025, supported by a complementary ore‑processing facility. By 2030, it aims to reach an annual throughput of 60 million tonnes, producing 50 million tonnes of high‑grade iron ore, 5 million tonnes of high‑grade titanium concentrate, and 100,000 tonnes of vanadium pentoxide.
The successful tripartite collaboration has effectively integrated industrial, geographical, and resource advantages, comprehensively deepening the comprehensive development and utilization of vanadium–titanium resources. Kuncai Technology will leverage Fujian’s abundant coastal marine resources and favorable logistics infrastructure to import high-quality overseas mineral resources, thereby extending its footprint into the upstream segments of the industry chain.
Looking ahead, Kuncai Technology will leverage its comprehensive, end-to-end industrial-chain capabilities and sustainable innovation to enhance its overall competitiveness and foster the healthy, sustainable development of the industry.
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