Sichuan Hongda updates on Duolong copper mine investment and development

Sichuan Hongda Co., Ltd. has issued a supplementary announcement regarding its staged investment in and connected transaction with Tibet Hongda Duolong Mining Co., Ltd. The investment aligns with prior agreements from 2011 and 2012, confirming Hongda Co. and Hongda Group will fund all pre-production costs for the Duolong Mining project, targeting a 100,000 tonnes per year copper metal output. The equity structure of Duolong Mining remains unchanged, with Hongda Group holding 40%, Hongda Co. 30%, and Shengyuan Mining 30%.

Duolong Mining currently holds two exploration rights in Tibet. The Duolong Copper Mine is projected to have an annual processing capacity of 75 million tonnes of ore, yielding approximately 300,000 tonnes of copper metal per year, as per the 2025 development plan. The company is actively pursuing the mining rights and has completed relevant reports and approvals.

The Duolong Copper Mine project is advancing steadily, with preparations for mine construction underway, including environmental impact assessments, beneficiation technology research, and engineering surveys. For the Dutangzha Copper Mine, increased exploration investment is planned for 2025, with a comprehensive report targeted for completion by year-end.