Brief: China Vanadium Titano Magnetite Mining Says Seen Substantial Demand Loss Due To Covid-19

China Vanadium Titano Magnetite Mining

09/03/2020 13:51

March 9 (Reuters) - China Vanadium Titano Magnetite Mining
Co Ltd  0893.HK :
    * SITE WORKERS WHO CARRY OUT UNDERGROUND OPERATIONS TO
FURTHER
DEFER RETURNING PLANS TO RESUME WORKS AT MAOLING MINE
    * SEEN SUBSTANTIAL DEMAND LOSS DUE TO COVID-19 THAT WILL
AFFECT
FINANCIAL RESULTS FOR Q1 OF 2020 ADVERSELY
    * SOME SITE WORKERS SLOWLY RETURNING TO CARRY OUT
PREPARATORY WORK
FOR RESUMPTION OF OPERATIONS AT MAOLING MINE
    * GROUP HAS DEFERRED ITS MAJOR CAPITAL EXPENDITURE
DECISIONS,
DELAYED EXPANSION PLANS FOR EXISTING OPERATIONS
    * MAY NEED TO POSTPONE OR SLOW DOWN EVALUATION OF
OPPORTUNITIES ON
MAJOR MINING SERVICES JOBS
    * HOPES TO RECOUP SIGNIFICANT PART OF CAPACITY LOSS IN ITS
INTERNAL PRODUCTION PLANS OVER NEXT TWO QUARTERS

Source text for Eikon:  ID:nHKSbRh9X5 
Further company coverage:  0893.HK 

 ((Reuters.Briefs@thomsonreuters.com;))