Yuegui subsidiary secures quartzite mining rights in Lianzhou for $222m

Guangxi Yuegui Guangye Holdings announced that its wholly-owned subsidiary, Guangdong Yuegui Jingyuan Mining Co., Ltd. (Jingyuan Mining), successfully bid for the mining rights of the Fanbeichong Quartzite Mine in Yao'an Township, Lianzhou. Jingyuan Mining's winning bid was RMB 222,238,200.00. The subsidiary was established on September 15, 2025, specifically for investment activities, following a resolution by the company's Ninth Board of Directors on September 4, 2025.

The acquired mining rights pertain to an area of 0.444 square kilometers with an extraction elevation range of 750 to 350 meters. The mine's total exploitable reserves are 18.163 million cubic meters, comprising 10.432 million cubic meters of quartz for glass and 7.731 million cubic meters of metamorphic sandstone for construction. The mining method will be open-pit, with an expected annual production scale of 2.6 million tons and a concession period of 20 years.

The bid price of RMB 222,238,200.00 does not include additional costs such as land lease, transfer, and sapling compensation totaling RMB 16,007,800.00, public welfare funds of RMB 21,923,820.00, and exploration investment of RMB 2,830,000.00. Jingyuan Mining plans to finance the acquisition through a combination of its own capital and bank loans, having already paid a deposit of RMB 43,847,640.00, which will be converted into the transaction price.