Panzhihua Iron and Steel Plant was built in 1965. Panzhihua Iron and Steel Co., Ltd. is a central enterprise directly managed by the State Council State-owned Assets Supervision and Administration Commission. For more than forty years, Panzhihua Iron and Steel Co., Ltd. relied on the rich advantages of vanadium-titanium magnetite resources in Panxi area and made independent innovation, which promoted the leap-forward development of vanadium-titanium industry in steel. Through the construction of the first and second phase projects, technical transformation and capital operation in recent years, it has developed into a modern trans-regional and cross-industry steel vanadium and titanium enterprise group. The main businesses of steel vanadium and titanium are mainly distributed in Panzhihua City, qingbaijiang district City, Mianyang City, jiangyou city City, Chongqing City and Beihai City, Guangxi Autonomous Region. Operating assets have been listed as a whole.
Panzhihua Iron and Steel Company insists on relying on scientific and technological progress to deeply develop and utilize vanadium-titanium magnetite resources, which has a unique position and advantages in China iron and steel industry. Panxi, where Pangang is located, is one of the regions with the richest mineral resources in China and even in the world, with nearly 9.6 billion tons of vanadium-titanium magnetite resources, including vanadium resources186,200 tons and titanium resources180,000 tons, accounting for165,438 tons of the world reserves respectively.
The iron concentrate production capacity of Panzhihua Iron and Steel Company reached 6.8 million tons. Panxi area is rich in hydropower, coal and metallurgical auxiliary materials, and has the superior conditions for building a large-scale steel vanadium-titanium enterprise. Comrade Deng Xiaoping once pointed out that this place is blessed by nature.