(I) Sticking to the development of titanium business, and adjusting iron concentrates production in a timely manner
The Group continued to make great efforts in planning and implementation of a comprehensive industrial chain, including mining and processing of ilmenite ore and production of titanium concentrates, high titanium slag, titanium tetrachloride and sponge titanium. Apart from the above-mentioned internal research and development of production technology, the cooperation with Chinese Academy of Sciences and the technology transfer cooperation with the Siberian Branch of the Russian Academy of Sciences under the leadership of the Ministry of Science and Technology of China, the Company also conducted a number of due diligence activities and project selection activities in regard to potential mergers and acquisitions of enterprises in the whole titanium business or other ways of cooperation to seize business opportunities for cooperation.
As for the iron concentrate business, the Group would timely adjust and implement its production plan in due course based on market changes and needs in order to protect the interest of its shareholders and investors.
(II) Expanding into clean energy business
The Group also conducted a feasibility study in respect of the encouragement from the central government that qualified private enterprises should engage in the wind energy and photovoltaic electricity business. Where possible, the Company would leverage the resources of large state enterprises and professional listed groups to obtain the planning permissions and grid access to the state grid and to expand into the clean energy business. The Group planned to steadily expand the utilisation of sustainable and renewable energy such as wind power, solar energy and solar thermal power resources in idle areas available for use of the Group’s mines first.
(III) Expanding into water pollution treatment business
In second half of 2015, the Ministry of Environmental Protection of the Peoples’ Republic of China published the “Water Pollution Treatment Action Plan” which indicated that water pollution shall not be taken lightly. The implementation of “Water Pollution Treatment Action Plan” brought great opportunities for the market of water pollution. The Group’s application of technology of draining residual ores achieved “zero emission” of industrial waste water, making it the first domestic mining company to get rid of tailing dam and achieve the recycle of industrial waste water. The implementation of water recycle projects effectively reduced water consumption. With such achievement, Shandong Ishine was granted a patent certificate for draining tailing system by the State Intellectual Property Office in 2012 and was recognised as the “Highlighted and Demonstrative Project of Draining Tailing in Shandong Province” by the Land and Resources Department of Shandong Province. The Group planned to improve the technology and solutions for treatment of complex water quality based on its existing patent and technology as well as past successful experience and by further introducing new microbial technology. In addition, the Group also planned to develop the above said patent and the most advanced water treatment technology into external business contracting projects for the water treatment of river channels in the PRC and other possible water treatment projects.
(IV) Expanding soil pollution treatment business using microbial biotechnology
The Ministry of Environmental Protection of the Peoples’ Republic of China has drafted the “Soil Pollution Treatment Action Plan” which shall be implemented after the completion of reporting and approval session. Soil pollution treatment has always been taken seriously by the society and, together with the treatment of air pollution and water pollution, constitutes three environmental treatment action plans in the PRC. The Group planned to use microbial technology to extract and synthesise the trace amount of titanium contained in the residual ores in Shandong Ishine together with the humic acid contained in the coal residual ores into microbial fertiliser, which contributes to solving the problems of soil compaction, pesticide and fertiliser residue and heavy metals contamination.
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