ReTo Eco-Solutions, Inc. (RETO) stock prices were up by a massive 29.24% as of the market opening on June 23rd, 2021, bringing the price per share up to USD$1.51 early on in the trading day.
Hainan Province Project
June 23rd, 2021 saw the company announce a new iron tailings project in the Hainan Province. The project has a 3 million ton treatment capacity and is expected to generate almost USD$43.7 million in annual sales once production commences. RETO has been tasked with designing, building, and managing the facility, which will be responsible for the largest volume of iron tailings in Hainan.
Merit of RETO
The company was selected for the project based on its patented technology, ability to implement and manage secondary sorting of iron tailings, as well as the selection and use of iron ore. RETO’s expertise in recycling leftover ore and processing it into ecologically friendly building materials also supported the case for it to be granted the project. The project is expected to generate almost USD$20.4 million in gross profit for the company.
Basis for Project
RETO uses cutting-edge and reliable technologies for production by implementing various systems such as three-stage crushing, two-stage screening, sand making, and beneficiation. Leftovers from production are use as an aggregate to produce building materials. Iron ore tailings are one such leftover, as one of the most common solid waste in the world. They are a byproduct of the beneficiation process of iron ore concentrate.
Scope of Project
Because of China’s rapid economical growth and expansion of its iron and steel industries over recent years, the volume of iron ore tailings has skyrocketed. This leads to a substantial environmental and economic cost arising from massive land occupation and ecological damage, which, in turn, results in safety hazards. Because of the increasingly alarming proliferation of the waste, effective waste management systems and solutions are more needed than ever.
Benefits of Project
The project will help diminish the cumulative adverse effects of the existing waste problem. Concurrently, the project will also serve to help recover valuable iron resources for reuse that would otherwise have been lost. Furthermore, the project has the potential to be an excellent platform to showcase the company’s proprietary one-stop comprehensive solid waste utilization.
Future Outlook for RETO
Armed with such a lucrative project in the works RETO is poised to continue its trajectory of success. The company is keen to capitalize on the opportunities afforded to it from the project. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
