Japanese Companies Invest In Norwegian Resource Companies To Ensure The Rights And Interests Of European Titanium Ore
According to reports, Iwatani Industries of Japan announced on the 7th that it will invest about 2.6 billion yen (about RMB￥130 million) in the Norwegian resource company “Nordic Mining Company” to ensure the European rights and interests of high-purity titanium ore. Titanium ore is a rare resource distributed in Russia, Africa and other places. In order to spread risks, Iwatani industry strives to diversify the sources of procurement.
Titanium ore is the raw material for titanium oxide for coatings and titanium metal for aircraft parts. Through this investment, long-term procurement of 20,000 tons per year can be achieved, which is equivalent to about 60% of the planned production of titanium ore mining in Norway's new project. It is said that due to the high purity, waste during refining can be reduced.
Iwatani Industry has long been engaged in titanium ore mining, purchasing from its own mines in Australia, and then wholesale to domestic and foreign chemical manufacturers.
