SHANGHAI Chinese aluminum producer Jiaozuo Wanfang Aluminum Manufacturing Co. Ltd. will spend 47.33 million yuan ($7.6 million) to set up carbon anode venture Jiaozuo Wandu Investment Holding Co.
Qinyang Carbon Anode Co. Ltd. will contribute 57.85 million yuan ($9.3 million) toward the venture, Jiaozuo Wanfang told the Shenzhen Stock Exchange March 7.
Jiaozuo Wanfang consumes 220,000 tonnes of carbon anodes annually, producing 50,000 tonnes of aluminum.
Qinyang Carbons capacity is 180,000 tonnes per year.
A version of this article was first published by AMM sister publication Metal Bulletin.