Western Mining subsidiary secures key multi-metal mining license

Western Mining Co., Ltd. (SSE:601168) announced today that its wholly-owned subsidiary, Golmud Xikuang Resources Development Co., Ltd., has been granted a "Mining License of the People's Republic of China" by the Qinghai Provincial Department of Natural Resources. The license, valid from November 26, 2025, to November 25, 2044, covers the Ciwenzahanshanxi C5 Anomaly Zone multi-metal mine.

This new license is a cornerstone for the sustainable development of Western Mining's iron resource segment, providing substantial reserves for future integration and growth. The mining area, spanning 9.3126 square kilometers, is estimated to hold 20.07m tonnes of multi-metal resources with an average iron grade of mFe31.59%, alongside associated copper metal (76,100 tonnes), zinc metal (60,400 tonnes), and gold metal (2.86 tonnes).

The acquisition of this mining license is expected to significantly enhance Western Mining's resilience and market competitiveness, positively impacting its long-term development. However, the company cautions investors that the ultimate realization of extraction benefits and production commencement are subject to further approvals and potential impacts from natural, social, and policy factors.