Fluorine (002407) announced today that it plans to invest 24 million yuan to acquire a 40% stake in Jingchang Fluorite Co., Ltd., which is located in Inner Mongolia.
According to the announcement, the company owns the Dadianzi fluorite mine and has a mining license. According to geological data and on-site investigations, there are currently four mining areas in the Dadianzi fluorite mine. All ore areas have been exposed. The fluorite ore grade is over 45%, and the reserves are more than 1.1 million tons.
In recent years, the price of fluorite has risen rapidly, rising from 1,600 yuan per ton at the end of the second quarter of 2010 to the current 2,600 yuan per ton. Analysts pointed out that as an important raw material for fluorinated fluorspar, the price increase will have a significant impact on the profitability of the company in the long run. The layout of the upstream resources of the company will help establish a stable fluorite supply channel. It is expected that the company will increase the acquisition of fluorite resources in the future.
According to the announcement, the company owns the Dadianzi fluorite mine and has a mining license. According to geological data and on-site investigations, there are currently four mining areas in the Dadianzi fluorite mine. All ore areas have been exposed. The fluorite ore grade is over 45%, and the reserves are more than 1.1 million tons.
In recent years, the price of fluorite has risen rapidly, rising from 1,600 yuan per ton at the end of the second quarter of 2010 to the current 2,600 yuan per ton. Analysts pointed out that as an important raw material for fluorinated fluorspar, the price increase will have a significant impact on the profitability of the company in the long run. The layout of the upstream resources of the company will help establish a stable fluorite supply channel. It is expected that the company will increase the acquisition of fluorite resources in the future.
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