Yuegui Guangye subsidiary secures significant quartzite mining rights for $21.9bn

Guangdong Yuegui Jingyuan Mining Co., Ltd., a wholly-owned subsidiary of Guangxi Yuegui Guangye Holdings Co., Ltd., has successfully acquired the mining rights for the Lianzhou Fanbeichong quartzite mine. The acquisition was made through a public auction on September 24, 2025, with a winning bid of $21,923.82 million. The official non-oil and gas mining rights transfer contract was signed on September 22, 2025, after the company completed the transaction confirmation process on September 29, 2025.

The newly acquired mining rights cover an area of 0.444 square kilometers and include an exploitable reserve of 18.163 million cubic meters. This total comprises 10.432 million cubic meters of quartz for glass and 7.731 million cubic meters of metamorphic sandstone for construction. The mining rights are valid for 20 years, including a one-year construction period and a one-year rehabilitation period.

This acquisition aligns with Guangxi Yuegui Guangye Holdings' strategic development plan, enhancing its resource base and production capacity, and is expected to contribute positively to the company's long-term sustainable growth. The investment utilizes Jingyuan Mining's own funds and is not anticipated to materially impact the company's financial or operational performance.