China Vanadium Titano-Magnetite Mining Company Limited announced that the Group expects to record a decline in profit by no more than 40% for the year ended December 31, 2012, as compared with the profit for the year ended 31 December 2011. Such a decrease in profit is mainly attributable to the decrease in sales volume and market prices of iron ore products during the year ended 31 December 2012, as compared to that for the year ended December 31, 2011.