LB Group announced on July 25 that, to improve the comprehensive utilization value of the company’s Panzhihua vanadio-titanomagnetite deposit and promote the company’s vanadium extraction industrialization from iron ore concentrate, it plans to jointly invest RMB200 million (USD29.57 million) with its wholly-owned subsidiary, Longbai Sichuan Mining and Metallurgy Co., Ltd. to establish Longvanadium Technology Co., Ltd. in Panzhihua.
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