Shandong Gold extends deadline to resolve competition issues

Shandong Gold Mining Co., Ltd. announced that its controlling shareholders, Shandong Gold Group Co., Ltd. and Shandong Gold Non-ferrous Metal Mine Group Co., Ltd., have extended the deadline for resolving horizontal competition until November 10, 2030. This extension follows the expiration of previous undertakings on November 10, 2025. The primary reasons for the delay include unproven resource reserves, uncertain profitability prospects, and unregulated major assets' right certificates for several key enterprises.

The affected entities include Qinghai Shanjin Mining Co., Ltd., Hainan Shanjin Mining Co., Ltd., Shandong Gold Jinchuang Group Co., Ltd., Songxian Shanjin Mining Co., Ltd., Zhaoyuan Jiuzhou Mining Co., Ltd., and Shandong Chengjin Mining Co., Ltd. These entities, which hold gold business assets, are currently managed by Shandong Gold. The undertaking commits to injecting these assets into Shandong Gold or selling them to unrelated third parties if conditions for injection are not met or if Shandong Gold is unwilling to acquire them.

The board of directors and independent directors of Shandong Gold approved the resolution, noting its compliance with regulatory guidelines and its benefit to the listed company and minority shareholders by addressing horizontal competition. Connected directors abstained from voting, and the resolution awaits consideration at the general meeting.