Southern Mining Group (001360.SZ) and Weiye Mineral Processing signed an equipment procurement, production and operation contract for the Lanxian Weiye 4.6 million tons/year beneficiation project

Zhitong Finance App News, China Mining Group (001360.SZ) issued an announcement. The company recently signed a “Lanxian Weiye Mineral Processing Project Equipment Procurement, Production and Operation Contract” with Lanxian Weiye Mineral Processing Co., Ltd. (hereinafter referred to as “Weiye Mineral Processing”). Weiye Mineral Processing will purchase the equipment required for the iron ore project with an annual processing ore volume of >4.6 million tons. Weiye Mining is responsible for the construction of the project, such as the beneficiation plant, tailings depot, etc., and agreed that both parties will complete the construction of the project and have normal production and acceptance. After the conditions, the whole is handed over in accordance with the contract operation agreement signed The company is responsible for the entire process operation of the beneficiation plant of this project (excluding the operation of the tailings depot), including all data related to the construction of the project.

Weiye Mineral Processing Contract Company is responsible for the entire operation of the beneficiation plant of this project from the date the construction of the project is completed, the production conditions are approved by both parties, and the full cycle of the project is ready for operation; it is estimated that the operating cost of this project for 10 years is approximately RMB 3 billion.