The PRC is the largest importer of iron ore in the world and Sichuan has the largest reserve of vanadium-bearing titanomagnetite in the country. Sichuan has approximately 83.2% of the total vanadium-bearing titanomagnetite reserves in the PRC, according to the Hatch Report.

The Group's mines utilized the open-pit mining method as each mine has a relatively thick ore bearing bed located at a relatively shallow depth. Open-pit mining method allows easy access to extraction areas and reduces operational risks associated with underground mining, and does not require any specialized machinery or supporting structures. In addition, due to the relatively high titanium content of the ore, the Group could be able to separate iron concentrates and titanium concentrates simultaneously through a single production process and as such enjoying significant cost efficiencies.

Our mines are located near to the railroad network which are convenient for transportation and reduce transportation time. Proximity to customers also enhances our connections with them and effectively improves our efficiency.