Recently, Subei Bolun Mining started construction of its Qijiaojing vanadium mine. With an investment of RMB112 million (USD16.28 million), the company plans to construct a vanadium extraction production line with an annual handling capacity of 500,000t of vanadium-bearing stone coal, which is produced from its own mine. Upon completion, the project will produce 2,000t of ammonium metavanadate 98% per annum with an annual production value of RMB540 million (USD78.51 million).