ReTo Eco-Solutions, Inc. to Conduct Annual Iron Ore Tailings Treatment with Capacity of Three Million Tons and Anticipated Sales of Approximately RMB 280 Million
June 23, 2021 at 05:00 pm IST
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ReTo Eco-Solutions, Inc. announced a new iron tailings project (the "Project") in the Hainan Province with a three-million-ton treatment capacity, which is expected to yield approximately RMB 280 million (approximately USD 43.7 million) annual sales after reaching production. ReTo will design, build and manage a facility in the Hainan Province and this latest project will be responsible for the largest volume of iron tailings in Hainan. ReTo was selected by the local government based on its patented technology, ability to implement and manage secondary sorting of iron tailings, selection and use of iron ore, and expertise in recycling the remaining ore and processing it into environmentally friendly building materials. The Company expects to generate RMB 131 million (approximately USD 20.4 million) of gross profit from the Project. The company adopts the world's most advanced, mature and reliable technologies for production by adopting various systems such as three-stage crushing, two-stage screening, sand making and beneficiation. The remaining material from the Company's production can also be used as an aggregate to produce building materials. Iron ore tailings, one of the most common solid wastes in the world, are a byproduct of the beneficiation process of iron ore concentrate. The volume of this type of waste has accelerated in China in recent years due to its rapid economical growth, and expansion in iron and steel industries. The high volume of waste generated creates a significant environmental and economic cost due to its massive land occupation and ecological damage, which result in safety hazard. Therefore, there is a greater need than ever for effective waste management systems and solutions.
ReTo Eco-Solutions Inc is a holding company. The Company is focused on manufacturing and distributing of eco-friendly construction materials such as aggregates, bricks, pavers and tiles, made from mining waste or iron tailings and fly-ash, as well as equipment used for the production of these eco-friendly construction materials. The Companyâs products include ground works materials, landscape retaining materials, hydraulic engineering materials, and wall materials. In addition, the Company provides consultation, design, project implementation and construction of urban ecological environments including those for the purpose of capturing, controlling and reusing rainwater, commonly called sponge cities. The Company also provides parts, engineering support, consulting, technical advice and service, and other project-related solutions for its manufacturing equipment and environmental protection projects.
ReTo Eco-Solutions, Inc. to Conduct Annual Iron Ore Tailings Treatment with Capacity of Three Million Tons and Anticipated Sales of Approximately RMB 280 Million