Opening up and Innovation
Mineral resources are an irreplaceable material basis for Chinas sustainable economic and social development. Currently, China is still under a rapid development stage of industrialization and urbanization, when rigid demands for resources continue to stay at a high level. However, China is stuck in poor resource endowment and resource shortages and thus increasingly reliant on imports of bulk minerals, which has seriously threatened the nations economic security. In recent years, Chinas reliance on imports of iron ores has exceeded 80%, which has threatened the national strategic security and aroused wide concern among all quarters of society. In order to enhance Chinas self-supply capacity of iron ores, in recent years, the country has made every effort to develop and utilize a lot of low grade iron ore resources that are difficult to be processed, of which the ultra-poor iron ore resource is a very typical one.
With the development and application of mineral resources, lots of tailings have been generated, which has not only worsened environment pollution, but also occupied a lot of land. In recent years, researches on comprehensive utilization of tailings have been launched one after another. With the support of national policies, tailings utilization has been taken as a field with the highest potential to strengthen the practice research on the comprehensive utilization of minerals, revive and develop mining enterprises, promote the continuous construction and operation of mineral exploitation industry and realize Chinas goal of sustainable development. In 2019, the total output of iron tailings was 521 million tons, accounting for 40.9% of the total mineral output. The comprehensive utilization of iron tailings has become increasingly urgent. In the comprehensive utilization of iron tailings, we should strengthen our understanding and mastery of standardization, develop complete measures for comprehensive utilization of iron tailings based on the actual conditions of China, expand the comprehensive utilization channels of iron tailings, reasonably advance the comprehensive utilization of iron tailings, and enhance the mineral resource utilization efficiency.
From 2021 to 2022, the ores in the stripping direction of the mining area of the subsidiary Jindi Mining was continuous but with a low grade, with an average grade of 0.0507% throughout the year. In order to guarantee the economic benefits, the grade of withdrawal of ore has to be raised to 0.0597% and the cutoff grade has to be controlled at 0.040%. For this purpose, the low grade ores in the due east must be stripped, which has increased the mining cost. If the low grade ores are mined by the cutoff grade of 0.030%, the stripping ratio will be lowered and the mining cost will be reduced greatly. They must be removed as soon as possible in the beneficiation process to reduce the grinding-flotation cost. In sum, the cost of Jindis molybdenum concentrate is relatively high and its profitability is relatively low, with a weak risk resistance capacity. Therefore, the dry separation and removal process is introduced into the ore crushing process to concentrate the grade of crude ore and lower the mined ore grade.
Since the mid 1980s, Chinas energy management has adopted energy balance test and energy audit to urge energy consuming units to install standard meters and gradually discard backward equipment with a high energy consumption, improve the energy-saving performance of main equipment and optimize the energy saving of energy consuming systems. Energy management has drawn more and more attention, which has involved all employees as an overall, comprehensive and normalized task. Therefore, energy management system has become much more well-received as a technical support platform that can reflect the energy utilization status of energy consuming units at any time.
In recent years, due to wide application in emerging fields such as battery, medicine, nuclear industry, aerospace and new energy vehicles, lithium mineral has shown an overall trend of rapid growth in terms of output and consumption and been internationally recognized as a strategic mineral. Following the pace of the market, the Company began to increase investment in the survey of lithium ore resources in 2022.