Jinduicheng Molybdenum Group leverages its own advantages in terms of funding, technology, management, and talent to increase the development of vanadium resources. Based on the advantage of vanadium resources in Shangluo and surrounding areas, the company acquired the Lvdonggou vanadium mine in Shanyang County, Shangluo, and established Shaanxi Jincheng Outstanding Vanadium Industry Co., Ltd. (referred to as Jincheng Vanadium Industry) with a vanadium metal reserve of 125,000 tons. Currently, the 2,000-ton ore selection project of Lvdonggou vanadium mine is being carried out in an orderly manner. At the same time, the company holds the controlling stake of Shaanxi Wuzhou Mining Co., Ltd. (referred to as Wuzhou Mining), which has added a vanadium metal reserve of 363,700 tons, as well as a vanadium ore selection, metallurgy and downstream production chain and its capacity.

Jincheng Vanadium Industry Co., Ltd., with a registered capital of 50 million RMB, was established in October 2019 as a wholly-owned subsidiary of Jinduicheng Molybdenum Co., Ltd., which is controlled by Shaanxi Nonferrous Metals Holding Group Co., Ltd.. It is based in Wangyan Town, Shanyang County, Shangluo City, Shaanxi Province, and engages in vanadium mining, production, processing, and sales. Jincheng Vanadium owns the Lvdonggou vanadium mine, located 50 km, southeast 122° of Wangyan Town, controlled by the Lower Cambrian Shuigokou Formation. The mine is a typical shale-type vanadium deposit, mainly occurring in the interlayer of clay rock and siliceous rock. The main ore body is 2,528 meters long and 1.86~18.30 meters thick, with an ore grade of 0.67-1.37%. Jincheng Vanadium has a research and development team with 34 personnel holding a bachelor’s degree or above, including nine postgraduate degree holders. Among them, there are 14 personnel with a vice-senior title, possessing various talents in project management, technical development, product research and development, and market expansion.

“Wuzhou Mining”, a holding subsidiary of Jincheng Molybdenum Group Co., Ltd., was established in November 2004 with a registered capital of RMB 250 million. Its headquarters is located in Zhongcun Town, Shanyang County, Shangluo City, Shaanxi Province. The high-quality shale vanadium deposit in the mining area is known as the “pearl on the black waistband” with a geological reserve of 30.4 million tons, an ore grade of 0.96%, and a metal content of 291,840 tons. It has two provincial-level vanadium industrial parks, four dressing plants, and a branch company with a designed annual ore processing capacity of 800,000 tons. The main products include 6,000 tons/year of V2O5, 3,000 tons/year of vanadium nitride, 3,000 tons/year of high-purity V2O5, 300 tons/year of vanadium aluminum alloy, 100 tons/year of high-purity metal vanadium, and 1,000 m³/year of all-vanadium liquid flow battery electrolyte. The main products include V2O5, high-purity metal vanadium, vanadium powder, vanadium flake, vanadium nitride, vanadium aluminum alloy, and all-vanadium liquid flow battery electrolyte. It has more than 820 employees, including 173 with college education or above, 23 with intermediate titles, and 9 with senior titles. It has formed a complete industrial chain with main businesses including vanadium mining, metallurgical refining, and the development and production of high-end vanadium products. The company’s products have high technological content and stable performance, with sales increasing year by year in both domestic and international markets. Its products have been exported to Europe, America, Southeast Asia and other countries. The company has won numerous awards, including one second prize for national technological inventions, one first prize for science and technology from the Ministry of Environmental Protection, three first prizes for science and technology from the China Nonferrous Metals Industry Association, and three second prizes for science and technology from Shaanxi Province. It has obtained 54 national patents and has been recognized as the first batch of intellectual property standardization units and demonstration units for provincial health enterprise construction in Shaanxi Province.

Jinduicheng Molybdenum Group is committed to resource integration, technology leadership, and breakthroughs in high-end industries, with green circulation as its characteristic, gathering and refining the vanadium industry, and constructing a “resource comprehensive development - high-end alloy manufacturing - advanced functional materials” characteristic industry chain. The Group aims to build a domestic leading high-end vanadium material industry base with advanced technology and a relatively complete industrial structure, and to form a regional vanadium industry ecological development pattern.