Shengguang Mining gets mining right for Fe-Cu-Zn deposit

On December 26, Golmud Shengguang Mining Development Co., Ltd., a wholly-owned subsidiary of Zhengping Road & Bridge Construction Co., Ltd., signed an agreement with the Department of Natural Resources of Qinghai Province to upgrade the exploration right to a mining right for a iron-copper-zinc mineral deposit.

The mining claims will allow the company to mine 400,000tpa of ore using underground mining method with a life of mine (LOM) of 16 years.

The indicated and inferred mineral resources at the target deposit include 6.37 million tonnes of iron, 5.56 million tonnes of copper ore and 1.2 million tonnes of zinc ore.