Dazhong Mining acquires new iron ore mining rights and exploration permits

Dazhong Mining's wholly-owned subsidiary, Anhui Jinrisheng Mining Co., Ltd., has recently obtained the mining rights for the Zhouyoufang Iron Ore Mine along with surrounding exploration permits. The exploration area covers 4.611 square kilometers, with a validity period from May 29, 2026, to March 22, 2031. Following a re-evaluation and filing of mineral resource reserves in 2024, Jinrisheng Mining's Zhouyoufang Iron Ore Mine recorded an additional 161 million tonnes of resources, bringing the total ore volume in the district to 282 million tonnes.

In July 2025, Dazhong Mining secured a mining license with an annual production capacity of 6.5 million tonnes, representing an increase of 2 million tonnes per year compared to the previous licensed capacity. The newly acquired mining rights and exploration permits (covering 4.611 square kilometers) for the Zhouyoufang Iron Ore Mine will enable the company to conduct geological exploration in the deeper and surrounding areas of the existing mining site, in pursuit of additional iron ore resources. This move is expected to further enhance the company's iron ore reserves, ensure resource continuity to support expanded production, and reinforce the sustainable development of Dazhong Mining's core iron ore business.