Hainan Mining (601969.SH) plans to acquire about 15.79% equity of Fung Ruifluor Industry for 300 million yuan to optimize its resource industry layout.

Hainan Mining (601969.SH) announced that the company intends to acquire approximately 15.79% equity of Fengrui Fluoride through capital increase, with a total investment of 300 million yuan. Fengrui Fluoride's main business includes the mining and selection of fluorite ore, as well as the production and sale of hydrofluoric acid and other chemical products. It holds mining rights to 8 fluorite ore mines in Henan with ore reserves of 13,540,000 tons. The annual fluorite ore mining scale is 645,000 tons, with an expected ore extraction of 718,000 tons in 2024. The main products are fluorite ore and fluorite fine powder, with production expected to reach 78,000 tons each in 2024. Fengrui Fluoride also operates a hydrofluoric acid production line with an annual capacity of 30,000 tons. It is reported that this acquisition aims to deepen the exploration and mining business of strategic resources and further optimize the company's resource industry layout.