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Inventory of Top Ten Hot Events in the Titanium Industry in the First Half of 2024

01. Lubei Chemical: Propose to establish a joint venture to invest in the construction of a 600000 ton zirconium titanium ore selection project with an annual processing capacity
On the evening of January 22nd, it was announced that in order to meet the company's demand for titanium ore resources, stabilize titanium dioxide production capacity, improve the company's competitiveness and profitability, and improve its strategic layout, the company plans to invest RMB 16.5 million, accounting for 55% of the shares, and jointly establish Shandong Lubei Zirconium Titanium New Material Technology Co., Ltd. with Shanghai Tibao Chemical Technology Co., Ltd. (contributing RMB 7.5 million, accounting for 25% of the shares) and Hainan Xinfu Supply Chain Co., Ltd. (contributing RMB 6 million, accounting for 20% of the shares).
The announcement shows that the three parties will jointly contribute to establish a project company (limited liability company) in Wudi County, Shandong Province in accordance with the provisions of the Company Law of the People's Republic of China. Taking the project company as the operating entity, we will build a deep processing base for titanium concentrate, rutile, monazite, and zircon sand, mainly engaged in the processing and sales of titanium concentrate, rutile, and zircon sand. The estimated production capacity of the deep processing base is 600000 tons per year. The name of the construction project is "Annual Processing of 600000 tons of Zirconium Titanium Ore Selection Project".
02. Venator announces transformation business plan and plans to shut down TiO2 production in Duisburg, Germany
In early February, Venator announced a crucial step in its transformation plan, which is to dismantle the 50kt titanium dioxide production capacity in Duisburg, Germany in the second quarter of 2024, and transfer professional production capacity to strengthen the Udingen factory. The Duisburg factory will continue to operate, focusing on its functional additive business. Our 80kt TiO2 factory located in Scalino, Italy continues to be offline, awaiting the development of local regulations and the improvement of its product TiO2 market conditions.
We will strengthen our titanium dioxide business by strengthening our products and providing products to customers, while restoring profit margins through pricing. In addition, we will also seek opportunities to monetize specific additive businesses.
03. Anada: The actual controller intends to be changed to the State owned Assets Supervision and Administration Commission of Yantai City
At the end of February, the controlling shareholder of Anada Company, Tonghua Group, signed a share transfer agreement and a concerted action agreement with Wanhua Battery. According to the above agreement, Tonghua Group plans to transfer its 32.683 million shares of the company (15.20% of the total shares of the company) to Wanhua Battery through an agreement transfer. The equity transfer price is 9.15 yuan per share, and the total transfer price is 299 million yuan. If this transaction is successfully completed, the transferee Wanhua Battery will become the controlling shareholder of the company, and the actual controller of the company will be changed to Yantai State owned Assets Supervision and Administration Commission.
04. Lubei Chemical: Planned to invest 719 million yuan to build a 60000 ton chloride titanium dioxide expansion project
On the evening of March 6, 2024, Lubei Chemical (600727) announced that in order to increase the company's titanium dioxide production capacity, increase market share, and improve the company's strategic layout, its wholly-owned subsidiary Shandong Xianghai Titanium Resources Technology Co., Ltd. plans to invest 719 million yuan in the construction of an annual output of 60000 tons of chlorinated titanium dioxide expansion project.
According to the announcement, the project plans to achieve a single line production capacity of 60000 tons/year of chlorinated titanium dioxide and 20000 tons/year of chlorine gas within the existing 60000 ton/year chlorinated titanium dioxide plant area, relying on existing building installation equipment and supporting public and auxiliary facilities.
05. India launches anti-dumping investigation on titanium dioxide from China
On March 28th, the Indian Ministry of Commerce and Industry issued a statement stating that domestic Indian company KeralaMinerals and Metals Ltd The application submitted by Travancore Titanium Products Ltd. and VV Titanium Pigments Pvt. Ltd. to initiate an anti-dumping investigation against titanium dioxide originating or imported from China. This case involves products under Indian customs code 28230010 and some items 32061110 and 32061190.
The dumping investigation period in this case is from October 1, 2022 to September 30, 2023 (12 months), and the injury investigation period is from April 1, 2020 to March 31, 2021, from April 1, 2021 to March 31, 2022, from April 1, 2022 to March 31, 2023, as well as the dumping investigation period in this case.
06. Notice of the Shaanxi Provincial Development and Reform Commission on Issuing the Action Plan for Cultivating Billion level Titanium and Titanium Alloy Industry Innovation Clusters in Shaanxi Province
In early April, in order to implement the "Opinions on Accelerating the Construction of a Modern Industrial System with Shaanxi Characteristics and Promoting High quality Development" and the "Implementation Plan for Accelerating the Construction of High level Industrial Innovation Clusters and Accelerating the Formation of New Quality Productivity in Shaanxi Province", seize the development opportunities of the titanium and titanium alloy industry, solidly promote the cultivation of innovation clusters in the titanium and titanium alloy industry worth billions of yuan, accelerate the formation of new quality productivity, and continuously shape new momentum for high-quality development, combined with the actual situation in our province, the "Action Plan for Cultivating Innovation Clusters in the Titanium and Titanium Alloy Industry worth billions of yuan in Shaanxi Province" was specially formulated.
Please analyze the current situation of industrial innovation and development in the urban area based on local conditions, implement the "Five Systems" and "Six Ones" work mechanism for industrial development, highlight project promotion, innovation, strong main body, and ecological optimization, guide specialized parks to do a good job in cultivating innovative clusters in the titanium and titanium alloy industry, and formulate corresponding action plans to be submitted to the Provincial Development and Reform Commission in a timely manner.
07. Proposed fundraising of 1.045 billion yuan, titanium alloy expert Jintian Titanium Industry is working hard to expand production
In early April, Hunan Xiangtou Jintian Titanium Industry Technology Co., Ltd. (referred to as Jintian Titanium Industry) successfully passed the review of the Shanghai Stock Exchange Science and Technology Innovation Board and the Municipal Party Committee Meeting, bringing the IPO process closer.
In this Science and Technology Innovation Board IPO, Jintian Titanium Industry plans to raise 1.045 billion yuan, of which 745 million yuan will be used for the advanced titanium alloy project for high-end equipment (Phase I). The project will fully reach production capacity, forming an annual production capacity of 2800 tons of titanium alloy rods and 200 tons of titanium alloy forging billets.
08. Billion level titanium resource comprehensive utilization project settled in Panzhihua, Sichuan to help build a vanadium and titanium industry base
On May 7th, Panzhihua Vanadium and Titanium High tech Zone in Sichuan signed an investment contract with Shenzhen Nabi Chemical Group Co., Ltd. for the high-quality comprehensive utilization project of 4.3 million tons of high titanium blast furnace slag annually. The project is planned to invest 12.08 billion yuan, with an annual output value of 16.5 billion yuan after completion and production, adding about 3000 new jobs. After completion, it will promote the comprehensive utilization of titanium resources in Panzhihua to a new level, providing strong support for Panzhihua to accelerate the construction of a vanadium titanium industry base.
Among them, the first phase will construct a demonstration production line for high-quality comprehensive utilization of 300000 tons of high titanium blast furnace slag annually; Construction of a standard production line for high-quality comprehensive utilization of 1 million tons of high titanium blast furnace slag annually in the second phase; Three standard production lines for high-quality comprehensive utilization of high titanium blast furnace slag with an annual processing capacity of 1 million tons will be constructed in the third phase.
09. Ishihara, Japan plans to close its sulfuric acid titanium dioxide plant by the end of March 2027
On May 23rd, Ishihara (ISK) announced that its board of directors had approved a plan to restructure its inorganic chemicals business, and that it would close its sulfuric acid production base in Shibuya, Japan by the end of March 2027.
As a manufacturer of Japanese *, Ishihara will continue to fulfill its responsibility for supplying chlorinated titanium dioxide products while vigorously promoting the production structure transformation of functional materials centered on electronic component materials.
Ishihara will consolidate its revenue base and optimize its overall business operations by reviewing its product portfolio organization, sales, and research and development strategies to accelerate the transition to high functionality, high value-added products (including new products). To minimize the inconvenience caused by the cessation of sulfuric acid production, the factory will continue to operate until the end of March 2027, and the possibility of forming alliances with other companies will be studied.
10. Comus suspends titanium dioxide production at its Mexican factory
On May 31st, due to severe drought affecting most parts of Mexico, Chemours global chemical company Altamira (New York Stock Exchange code: CC) announced today that the company will comply with government requirements and temporarily reduce water intake, which has led to the suspension of its Altamira titanium dioxide production line. Titanium dioxide is a production facility that saves water for surrounding communities.
Due to the uncertainty of uncontrollable factors, Komo is currently unable to predict the duration of the event.

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