Dazhong Mining says unit obtained mining right for an iron mine and license to explore surrounding area

Anhui Jinrisheng Mining Co., Ltd., a wholly-owned subsidiary of Dazhong Mining Co., Ltd., has secured a Mining License for the expansion of its Zhouyoufang Iron Ore Mine, increasing the production capacity to 6.5 million metric tonnes per year, with a 30-year validity period. This development aligns with the company’s "resource increase and production expansion" strategy, which includes intensified exploration in the deep and peripheral areas of the mine to enhance resource availability.

As of December 31, 2023, Zhouyoufang Iron Ore Mine reported total reserves of 282 million metric tonnes, a significant increase from 121 million metric tonnes in 2017. The expansion license provides a solid foundation for long-term operational stability and supports the company’s integrated mining, beneficiation, and smelting operations, which have been in place for over two decades.

Dazhong Mining’s cost control measures have also contributed to its competitive positioning. In 2024, the company’s unit sales cost for iron ore concentrates was 370.62 yuan per metric ton, a relatively low figure in the industry. The company’s strategy of prioritizing resource development and operational efficiency is expected to further strengthen its market position and support sustainable growth.