:Zangge Mining: Subsidiary Zangge Potash Fertilizer was ordered to immediately cease lithium resource development and utilization activities.
On July 17, Tibet Mineral announced in the afternoon that its wholly-owned subsidiary, Zangge Potash, received a notice from the Natural Resources Bureau of Haixi State and the Salt Lake Management Bureau of Haixi State on July 16, ordering an immediate halt to lithium resource development activities. The notice requires strict compliance with national laws and regulations, earnest fulfillment of corporate responsibilities, immediate cessation of illegal mining activities, active rectification, improvement of legal procedures for lithium resources, and application for resuming production to the Salt Lake Management Bureau of Haixi State only after the legal and compliant procedures for lithium resources are completed. Zangge Lithium has ceased production as required after receiving the notice. Meanwhile, the company is actively processing the procedures for lithium resource exploitation and will apply for resumption of production to the Salt Lake Management Bureau of Haixi State promptly after completing the procedures. In addition to Zangge Lithium's temporary production halt, the company, Zangge Potash, and other subsidiaries are operating normally, and this will not significantly impact the company's business performance for the time being.
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