Zijin Mining (03788): Shangma Iron Mine has received an updated mining license issued by the Department of Natural Resources of Liaoning Province.

Capital Finance APP News, China Rare King (03788) announced that its wholly-owned subsidiary Fushun Rare King Shangma Mining Co., Ltd. recently received an updated mining permit issued by the Department of Natural Resources of Liaoning Province for its wholly-owned Shangma iron mine. The updated mining permit expands the mining area from 6.7224 square kilometers to 10.9753 square kilometers. As a result, the iron ore resources newly added through its own exploration within the mining right certificate of Shangma iron mine, about 79.76 million tons (an increase of about 265%), have been included in the updated mining permit. The updated mining permit is valid until April 8, 2039. Currently, the Shangma iron mine has a total iron ore resource of approximately 110 million tons, with a total iron grade of 33.76%, of which the confirmed and controlled resource accounts for 50.72% of the total resource. For details on the resource quantity, please refer to the announcement of this company dated February 13, 2025. According to the "Classification Standards for Mineral Resource Reserves" implemented by the Ministry of Natural Resources of the People's Republic of China on November 1, 2022, the scale of Shangma iron mine is classified as "large-scale iron ore".