China Vanadium Titano-Magnetite Mining Company Limited provided earnings guidance for the six months ended June 30, 2018. For the period, the board of directors of the company informed the Shareholders Of The Company and potential investors that based on the preliminary review of the Group's unaudited consolidated management accounts for the six months ended 30 June 2018, the Group is expected: to record a loss for its operating mines of low-grade or low Fe iron concentrates as a result of significantly lower selling prices (which fell by 16% to 22% on average as compared to the six months ended 30 June 2017) due to falling demand and destocking; and impairment losses as assessed in accordance with the Group's accounting policies given lower-than-expected utilisation rates and the status of suspended production facilities and inactive mines; and to record a cash profit and positive operating cash flows for its operating mines of high-grade iron concentrates as a result of higher selling prices and focused strategies to improve efficiencies for production of high-grade iron concentrates. However, the Group's loss, including impairment losses recorded for Low Fe and Inactive Mines, is expected to outpace the profit derived from High Fe Mines. As a result, the Group is expected to record a loss before tax, including impairment losses of not more than RMB 400.0 million.