March 9, 2020 / 1:55 PM / 19 days ago

BRIEF-China Vanadium Titano Magnetite Mining Says Seen Substantial Demand Loss Due To Covid-19

March 9 (Reuters) - China Vanadium Titano Magnetite Mining Co Ltd:

* SITE WORKERS WHO CARRY OUT UNDERGROUND OPERATIONS TO FURTHER DEFER RETURNING PLANS TO RESUME WORKS AT MAOLING MINE

* SEEN SUBSTANTIAL DEMAND LOSS DUE TO COVID-19 THAT WILL AFFECT FINANCIAL RESULTS FOR Q1 OF 2020 ADVERSELY

* SOME SITE WORKERS SLOWLY RETURNING TO CARRY OUT PREPARATORY WORK FOR RESUMPTION OF OPERATIONS AT MAOLING MINE

* GROUP HAS DEFERRED ITS MAJOR CAPITAL EXPENDITURE DECISIONS, DELAYED EXPANSION PLANS FOR EXISTING OPERATIONS

* MAY NEED TO POSTPONE OR SLOW DOWN EVALUATION OF OPPORTUNITIES ON MAJOR MINING SERVICES JOBS

* HOPES TO RECOUP SIGNIFICANT PART OF CAPACITY LOSS IN ITS INTERNAL PRODUCTION PLANS OVER NEXT TWO QUARTERS Source text for Eikon: Further company coverage:

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