On August 5, Kuncai Technology signed a Letter of Intent for the Vanadium-Titanium Resource Base Project Investment Framework Agreement with the Zhangzhou Municipal Bureau of Commerce and International Resources Limited in Johannesburg, South Africa. Recently, the project has made substantial progress: Kuncai Technology and International Resources signed a Cooperation Agreement on August 27. 

In the future, Kuncai Technology will jointly invest with International Resources to establish a joint venture to develop the resources of the Mapochs mine in South Africa, acquired by International Resources, and will rely on the port resources of Zhangzhou City to import the raw materials needed by the company and carry out R&D and manufacturing of raw materials locally.

As the world's largest single mine with the highest vanadium content, the Mapochs mine project is expected to reach an annual throughput of 10 million tons and investment in supporting ore dressing projects by 2025, and is expected to reach an annual throughput of 60 million tons by 2030, producing 50 million tons of high-grade iron ore, 5 million tons of high-grade titanium concentrate, and 100,000 tons of vanadium pentoxide.

The successful cooperation among the three parties effectively integrates industrial, geographical, and resource advantages, comprehensively deepening the comprehensive development and utilization of vanadium-titanium resources. Kuncai Technology will take advantage of the rich marine resources and convenient logistics conditions along the coast of Fujian, introduce high-quality overseas mineral resources, and extend the layout of the upstream industrial chain.

In the future, Kuncai Technology will enhance its comprehensive competitiveness and promote the healthy and sustainable development of the industrial chain with its complete sustainable innovation capabilities across the entire industrial chain.