Southern Mining Group announced that the company recently signed the “Lanxian Weiye 4.6 Million Tons/Year Mineral Processing Project Equipment Procurement, Production and Operation Contract” with Lanxian Weiye Mineral Processing Co., Ltd. Weiye Mineral Processing procures the equipment required for the iron ore project with an annual processing ore volume of >4.6 million tons. Weiye Mineral Processing is responsible for the construction of the project's overall project, such as the beneficiation plant and tailings depot, and agreed that after the project construction is completed and the normal production conditions are met, the entire process of the beneficiation plant will be handed over to the company to be responsible for the entire operation of the beneficiation plant for this project in accordance with the contract agreement signed in the contract. Weiye Mineral Processing Contract Company is responsible for the entire operation of the beneficiation plant for this project from the date the construction of the project is completed, the production conditions are approved by both parties, and the full cycle of the project is ready for operation; it is estimated that the operating cost of this project is about RMB 3 billion for 10 years of operation.

Southern Mining Group announced that the company recently signed the “Lanxian Weiye 4.6 Million Tons/Year Mineral Processing Project Equipment Procurement, Production and Operation Contract” with Lanxian Weiye Mineral Processing Co., Ltd. Weiye Mineral Processing procures the equipment required for the iron ore project with an annual processing ore volume of >4.6 million tons. Weiye Mineral Processing is responsible for the construction of the project's overall project, such as the beneficiation plant and tailings depot, and agreed that after the project construction is completed and the normal production conditions are met, the entire process of the beneficiation plant will be handed over to the company to be responsible for the entire operation of the beneficiation plant for this project in accordance with the contract agreement signed in the contract. Weiye Mineral Processing Contract Company is responsible for the entire operation of the beneficiation plant for this project from the date the construction of the project is completed, the production conditions are approved by both parties, and the full cycle of the project is ready for operation; it is estimated that the operating cost of this project is about RMB 3 billion for 10 years of operation.