On July 9, Huiyun Titanium Industry announced that its wholly-owned subsidiary Qinghe County Huiyun Mining Co., Ltd. successfully won the exploration rights for the “Akewana Vanadium-Titanium Magnetite Mine Prospecting” in Qinghe County, Xinjiang, with a self-owned fund of 1.1528 million yuan (the final transaction amount is subject to the transfer contract signed by both parties).
The announcement stated that this exploration rights bidding event will have a positive impact on the company’s future business development. If the exploration results are satisfactory and the company can smoothly complete the “exploration-to-mining” process, it can to some extent ensure the company’s main raw material resource reserves, which is beneficial for the company’s long-term stable development.
