Economy

Panzhihua is a highly industrialized area dominated by gigantic mining operations. Most of the land not in use for mining is taken up by subsistence farming.Mineral ResourcesPanzhihua has abundant natural resources, but remained a wasteland until 1960. It was founded on a remote headwater of the Yangtze River in 1966 as a steel production center. It grew rapidly as it remained relatively prosperous while the rest of the country suffered under the Cultural Revolution. The city is home to the Panzhihua Iron and Steel (Group) Co, called "Pangang 攀钢", the leading steel company in southwest China.Proven iron ore (mainly vanadium-titanium magnetite) reserves are 73.8 million tons, 72.3% of the provincial total. At the end of 2007, the city's reserves of vanadium-titanium magnetite were 6.694 billion tons, of which: titanium reserves were 425 million tons, 93% of the national total, the world's largest; vanadium reserves were 10.38 million tons, 63% in the nation, third in the world. Cobalt reserves were 746 million tons. Other minerals were chromium, gallium, scandium, nickel, copper, lead, zinc, manganese, platinum and other rare metals.Other mineralsMineralReserves (million tons)Cobalt746Coal708Crystalline graphite15.4Ju Yan20.98Limestone295Metallurgical dolomite363Cement sand retention11.94Refactory clay10.32Diatomite16.5Granite87.5 m3Marble53.99 m3

Transport

Panzhihua is served by the Chengdu–Kunming Railway and the Panzhihua Bao'anying Airport. The city has over 10 bridges over the Jinsha River.