The Hubei Yichang Sino-Mineral Minerals and Fertilizer Project, which was once widely watched, has made significant progress recently. With the approval of the Ministry of Land and Resources, Hubei Yichang Phosphat Chemical Industry Group Co., Ltd. injected the Dianpingping Phosphate Mine and Shujingping Phosphorite Mine into China. The joint venture company Yichang Maple Leaf Chemicals Co., Ltd., which can use two phosphate rock resources with a phosphate reserve of 60,260,200 tons, has also been officially issued to the China-Canada joint venture company. According to the China-Canada Joint Venture Agreement, the above-mentioned mineral rights will be injected into Yichang Maple Leaf Chemical Co., Ltd. as capital.
It is understood that the Hubei Yichang Sino-Mineral Minerals and Fertilizer Project is a large-scale mineral fertilizer integration project jointly established by the Canadian-listed company Spall Resources Co., Ltd. and Hubei Yichang Phosphat Chemical Industry Group Co., Ltd., a Sino-foreign joint venture Yichang Maple Leaf Chemical Co., Ltd. After the establishment of Yichang Maple Leaf Chemical Co., Ltd., great changes have taken place due to factors such as the development and utilization of the Yichang phosphate resources, the market conditions and policies of the phosphate resources, and the registered capital of the Chinese and foreign parties including the right to exploit phosphate rock resources. There are many differences between the project construction plan and other aspects, which has led to the slow progress of the project and a few strands. After several rounds of difficult negotiations and the support of relevant government departments in China and Canada, in October 2009, the two parties finally reached a consensus to continue project construction. At this point, Hubei Yichang Sino-Mineral Co., Ltd. combined the construction of a major turning point.
However, in this crucial period, the Hubei Provincial Government promulgated the “Opinions on Further Strengthening the Management of the Development and Utilization of Phosphorite High-Potassium Iron Ore†and proposed the establishment of a number of provincial phosphate rock planning areas. Besides the provincial-level geological prospecting fund projects, the All mineral exploration and mining rights in the region were suspended for approval. It is clear that since 2011, Hubei Province has begun to promote the exploration and development of phosphate rock monoliths, relying on large-scale phosphorous chemical companies, and carrying out prospecting and mining of phosphate mineral resources in the phosphate mining areas where mining rights have been set. To limit the mining of phosphate rock in Hubei, and gradually reorganize and close down the phosphate ore enterprises with a capacity of 150,000 tons/year or less, to promote the concentration of resources to leading enterprises and large-scale key phosphorus chemical companies, and to support the development of fine-phosphorus chemical products. New low-level phosphate fertilizer project and pure yellow phosphorus production project. The province's phosphate ore beneficiation, processing enterprises and products are subject to classified management, and the companies that restrict the elimination of phosphate deposits will not be equipped with phosphate mineral resources and adopt differential pricing policies. The introduction of the "Opinions" once again brought people's attention to the Hubei Yichang Sino-Mineral Minerals and Fertilizer Project.
At the same time, the “Opinions†also caused the Yichang Municipal Government to attach great importance. In order to implement the decisions of the Hubei Provincial Government and to develop and utilize local resources more reasonably and effectively, under the guidance of the Yichang Municipal Government, Hubei Yichang Phosphorus Chemical Industry Group Co., Ltd. agreed to The entire equity was transferred to the local phosphorous chemical industry pillar enterprise Xingfa Group. After reorganization, integration and negotiation, on August 16th, Hubei Yichang Phosphorization Group and Xingfa Group formally signed an equity transfer agreement, but the agreement still needs to be approved by the Yichang Municipal Government and the Hubei Provincial SASAC to take effect. Informed sources in the industry recently stated that after the Xingfa Group completed the transfer of the equity of the Phosphate Group and submitted it to the Yichang Municipal Government and the Hubei Provincial SASAC for approval, it was only taking the procedure and it was expected to be completed soon. The next step is to put Equity injection Yichang Maple Leaf Chemical Co., Ltd. Since the first phase of Canadian Spar Resources Company's initial capital of 160 million yuan has been put in place, after Xingfa Group reorganizes the Yichang Phosphate Group in Hubei Province, it will further accelerate the progress of the Sino-Canadian mineral fertilizer combined project construction. What will be the fate of Sino-Canadian mineral fertilizer combination project? In response, industry commentators said: It is worth the wait!
Background information
Hubei Yichang Sino-Mineral Minerals Co., Ltd. initialed the agreement in 1997. It was approved by the former State Development Planning Commission in February 1999. It was finally approved by the State Council’s Prime Minister’s Office in March 2002, and then approved by the Ministry of Commerce in November 2003 in Hubei. Provincial Trade and Industry Bureau to register. The project is Canada's largest investment project in Hubei Province and has received the attention and attention of the Canadian and Chinese governments. The project relies on North America's largest capital market and Hubei's finest phosphate rock resources. The original design has a total annual production capacity of 1.35 million tons of phosphate rock, 800,000 tons of sulfuric acid, 240,000 tons of phosphoric acid (P2O5) and 1.5 million tons of high-concentration phosphorus. Fertilizer is estimated to have a total investment of approximately RMB 3 billion. On May 29, 2008, the one-million-ton coal-to-total mineral fertilizer project under construction contracted by the Sino-Canadian joint venture Yichang Maple Leaf Chemical Co., Ltd. broke ground in Yichang, Hubei Province. The first phase of the project will annually produce 120,000 tons of phosphoric acid (P2O5) and 300,000 tons of MAP/NPK devices. It was originally planned to be completed and put into operation in February 2009.
Spall Resources is a company listed on the Toronto Stock Exchange and the Nasdaq Stock Exchange of the United States and specializes in global fertilizer and resource development. It is headquartered in Vancouver, Canada. Spar Energy's strategy is to integrate, develop and efficiently use resources globally through capital instruments and an international capital platform. The strategic goal of Spall Resources in China is to expect to grow together with China: to achieve rapid growth in China by building, merging, and participating in the reorganization of China's phosphate and compound fertilizer industry; through the integration of resource, manufacturing and marketing network integration. Establish a localized management team to accelerate its development strategy in China.
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