Baogang Co., Ltd. (600010.SH) announced that on March 5, 2021, the board of directors of the company agreed with the company and Jinshi...
Zhitong Finance App News, Baogang Co., Ltd. (600010.SH) announced that on March 5, 2021, the board of directors of the company agreed to establish a joint venture with Jinshi Resources Group Co., Ltd., Zhejiang Yonghe Refrigeration Co., Ltd., and Longda Food Group Co., Ltd. to establish two joint ventures and invest in related projects. The announcement revealed that the construction period of the project was 7 years.
At present, the construction projects of Fluorite Mineral Processing Company and Fluorine Chemical Company have made breakthrough progress, exceeding the 7-year production and construction period disclosed earlier. Production and construction have been completed ahead of schedule, promoting efficient recovery and high-value utilization of fluorite resources associated with Baiyun Ebo Mine. The return on investment has reached phased expectations, and has become a new profit growth point for Baogang Co., Ltd.
According to reports, the 1 million tons/year production line of the fluorite beneficiation company, the 1.5 million tons/year old production line renovation project, and the 2.6 million tons/year production line in the Baogang selection area have all been completed. Profits for producing fluorite concentrate in 2023 have increased dramatically, which is expected to increase by more than 1000% over the same period last year. All fluorine chemical projects surrounding the industrial chain have been completed, and production of anhydrous hydrofluoric acid and fluorosilicic acid achieved a significant increase in profits in 2023, which is expected to increase by more than 2000% over the same period last year.