On 24 July 2009, at Phu My District (Binh Dinh), Saigon – Quy Nhon Minerals Corporation (SQC), member of Saigon Invest Group (SGI) held the opening ceremony to commence the operation of the most modern Titan slag plant in Vietnam, with the total investment of 1,000 billion VND on an area of 73 ha.

In attendance at the Ceremony, there were Mr. Xay Xom Phon Phom Vi Han – Vice Chairman of the national assembly of Laos; Mr. Ku Keo Akha mo kentry – Deputy of the Committee of Foreign Affairs – National assembly of Laos; Mr. Nguyen Van Son, Commissioner of the Central Party, Commissioner of Civil Affairs of the National assembly, Head of the Committee of Foreign Affairs – National assembly of Laos; Mr. Le Huu Loc, Vice President of Binh Dinh People’s Committee and representatives from the authorities of the local Departments and Divisions.

The Titan slag plant is regarded as one of the largest-scaled projects of SQC. The total capacity of Phase 1 (consisting of 2 furnaces) is 24,000 tons of Titan slag with the clarity of 93%, currently the best clarity in Vietnam. Besides, the Plant would also produce 12,000 tons of high-endurance iron per year. In phase 2, three more furnaces will be added, increasing the capacity by 36,000 tons of Titan slag (93% clarity) and 18,000 tons of iron per year. In total, the capacity of these 5 furnaces reaches 60,000 tons of Titan slag and 30,000 tons of iron per year.

According to Ms. Dang Thi Hoang Phuong, Chairman of the Board of Directors of SQC: “After the intensive search for developing models in foreign countries and the discovery of the potentials of Titanium – rated among the strategic metals with increasing demand, early in 2007, the leaders of Saigon Invest Group and SQC decided to establish the most modern Titan slag plant in Vietnam in order to make good use of the national natural resources”

Mr. Dang Thanh Tam – Chairman of SGI addressing the Ceremony

Ms. Phuong also revealed that currently most minerals companies only sold raw Titan products or 52% refined ones at an extremely cheap price - 50 USD/ton. Therefore, SQC has decided to import modern technologies, building the plant to produce valuable products at the price of 20 times higher. The conduct would further increase the value of the national natural resources and protect the environment.

Addressing the Ceremony, Vice President of Binh Dinh People’s Committee Le Huu Loc stated that the implementation of this Titan slag plant was an impressive endeavor of Saigon Invest Group and SQC to help boost up the socio-economic development of Phu My, Binh Dinh in particular and of Vietnam in general. He also congratulated on the initial achievements of the Plant and hoped that SGI and SQC would implement the second phase of the project and put it into operations punctually as scheduled.

Cutting the inaugural ribbon to commence the biggest and most modern Titan slag plant in Vietnam

As scheduled, the completed Plant would create jobs for at least 500 local laborers and contribute annually hundreds of billion VND to the State budget, helping boost up the socio-economic development of the region and the country.

As planned, the Plant would go on with the production of Titanium dioxide and TiO2 alloy (Titanium combination) to meet the domestic demand and export. Accordingly, SQC would be the investor of the nearly-100-ha industrial zone in My Thanh Commune, Phu My District to establish the Titanium Refined Production Industrial Zone of Binh Dinh.

Overview of the Ceremony

SQC is a new member of Saigon Invest Group (SGI), established to exploit and process Titanium ores; Produce concrete and other cement-based products; Leasing workshops; Exploit rocks, sand, gravels and clay; Clear sites, building internal traffic roads; Build civil buildings, industrial building and traffic buildings, etc.

Ever since its establishment, within a modest period of time, SQC has implemented numerous significant projects in Binh Dinh, especially the environment purification and raw Titan ore extraction project in Nhon Hoi A IP. The corporation has made an important contribution to the business diversion of Saigon Invest Group from traditional fields to the heavy industry, creating added values and helping boost up the national progress.

The Plant going into operations

Le Duy