Anning Co., Ltd. (Stock Code: 002978) announced on the evening of April 1 that, to fully leverage Panzhihua’s vanadium-titanium resource advantages and achieve strategic positioning and long-term planning, the company recently signed the "Investment Contract for the Annual 60,000-Ton Energy-Grade Titanium (Alloy) Materials Full Industrial Chain Project of Sichuan Anning Iron & Titanium Co., Ltd." with the Panzhihua Vanadium-Titanium High-Tech Industrial Development Zone Management Committee.

According to the disclosure, the project primarily includes:

Sponge titanium and supporting production lines

Titanium (alloy) material ingot casting and rolling processing production lines

The total planned investment budget is 10 billion yuan, divided into three phases:

Phase I: 5.5 billion yuan

Phase II: 2.5 billion yuan

Phase III: 2.0 billion yuan

Construction will commence after obtaining legally compliant permits. The first phase is scheduled for completion within 24 months, with all three phases planned to conclude within 60 months.

Company Background:

Anning Co., Ltd. is a circular economy enterprise specializing in comprehensive utilization of vanadium-titanium resources through advanced polymetallic (multi-metal associated) ore mining and processing technologies. It engages in the mining, beneficiation, and sales of vanadium-titanium magnetite, with main products being titanium concentrate and vanadium-titanium iron concentrate. The company holds abundant vanadium-titanium magnetite resources.

Investment Rationale:

Anning stated that China’s titanium materials industry is currently concentrated in low-to-medium-end products, with limited scale and inconsistent quality. The long-term lack of large-scale production, stable high-quality, and cost-effective titanium materials has hindered the expansion of titanium applications. Seizing opportunities from Sichuan Province’s prioritized support for vanadium-titanium development and the Panxi National Strategic Resource Innovation Pilot Zone, the company aims to extend its industrial chain by integrating Panzhihua’s green electricity resources (hydropower, photovoltaic, wind power resources) to build a full industrial chain project spanning "vanadium-titanium magnetite → sponge titanium → titanium ingots/plates → energy-grade titanium (alloy) materials".

Strategic Collaboration:

The signing of this engineering design contract and strategic cooperation agreement follows previous collaborations on underground mining and tailings reservoir projects. Under Sichuan Province’s policy support for vanadium-titanium development and the Panxi National Strategic Resource Innovation Pilot Zone, this partnership will drive technological advancement and industrial upgrading across the vanadium-titanium value chain.