Aricom Plc
LON:ORE ISIN:GB0033990283
Aricom develops mineral assets in Russia's far east, with a focus on ilmenite and iron ore for the high growth markets of China. The geology and geography of our assets combined with the supporting infrastructure and strong management team, means that Aricom is poised to meet the future challenges of growth.
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Aricom plc (LSE:ORE) is pleased to announce that further to the Memorandum of Understanding announced in January 2008, it has signed and received relevant formal approvals for the joint venture contract with Aluminium Corporation of China ("Chinalco") to construct a titanium sponge plant in North East China. Aricom and Chinalco will establish the plant in Jiamusi City, Heilongjiang province, China, with an initial production capacity of 15,000 tonnes p.a. of titanium sponge.
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