Hanwang Gold (03788): Mt Bundy Gold Project Plant Selection and Construction Begins

Zhitong Finance App News, Hanwang Gold (03788) issued an announcement. Following the award of the EPC and EPCM contracts for the construction of the 5.5 million tons/year processing plant for the Mt Bundy gold mine project to two senior Australian contractors, DeLonix Solutions Projects Pty Ltd (Delonix Solutions) and CPC Engineering Pty Ltd (CPC Engineering), the company announced on August 12, 2026 The commencement ceremony for plant selection and construction was held, marking that the project has officially entered the full construction stage.

The commencement ceremony was held at Rustlers Roost, the plant selection site of the Mt Bundy Gold Project. Guests attending the site included Mr. Andrew Mackay, a representative of the Australian Northern Territory Government and local constituency; Mr. Paul Vogel, Chairman of the Northern Territory Environmental Protection Authority; Mr. Alister Trier, Executive Director of the Northern Territory Department of Mines and Energy; and Ms. Kathleen Davies, Executive Director of the Mining Division of the Ministry of Land, Planning and Environment of the Northern Territory There were more than 40 guests, including President Dr. Qiu Yumin (Dr. Qiu), Chairman of the Board of Directors of the Company, Mr. Tang Wenbin and Zhang Jing, Executive Director, Mr. Glenn Weir, CEO of CPC Engineering, and Mr. Philippe Vatin, Managing Director of Delonix Solutions, Mr. David Parry, Australia Regional Manager of CITIC Heavy Industries Group, and other government officials, industry and community representatives. Journalists from Australia Broadcast Corporation (Australia Broadcast Corporation) and News Limited (News Limited) attended the groundbreaking ceremony.

At the commencement ceremony, Mr. Andrew Mackay, a member of the Northern Territory Assembly, spoke on behalf of the Northern Territory Government and gave high praise to Han Wang Gold's persistence and efforts on the project over the past 12 years. Mr. Mackay pointed out that the project is a major project for the Northern Territory. The plant we are building will be the largest gold processing plant in the Northern Territory, and after completion and operation, it will become the second-largest gold mine in the Northern Territory with annual output. He emphasized that the Northern Territory Government will continue to support the company's development in the Northern Territory.

Regarding the commencement ceremony of the plant selection and construction, Dr. Qiu said, “We are very grateful to all the guests who attended the commencement ceremony today. Hanwang Gold saw the huge potential of this project more than 10 years ago. In 2014, it took a stake in Primary Gold, an Australian listed company at the time, and fully acquired Primary Gold and delisted in 2018. Since then, gold reserves have increased more than tenfold. After years of hard work by our team and the support of the government and people from all walks of life, we have reached this stage”.

“During the construction and subsequent long-term operation of the project, the company will adhere to the concept of safe and environmentally friendly sustainable development, and will continue to adhere to the local management strategy, prioritize the employment of local labor, select local suppliers to carry out various supporting cooperation, actively fulfill corporate social responsibility, drive regional economic development in the Northern Territory, and create a large number of local jobs. We are convinced that the project will create value for shareholders and all stakeholders.”

Representatives of the main construction contractor EPC and EPCM signatory made separate statements and promised to work with the company to complete and put into operation the gold mine selection plant on time, in accordance with the quality and budget. The construction site preparation work for the Mt Bundy gold mine project has basically been completed, and the plant selection and construction have officially entered the full construction stage.