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_Mining Hotspot 01 this week

The Ministry of Natural Resources held a promotion meeting on mineral resources management and a new round of strategic actions for mineral prospecting breakthroughs, proposing to do everything possible to find large mines, find good mines and find urgently needed mines.

IMPORTANT NEWS

The official website of the Ministry of Natural Resources, March 15. On March 14, the Ministry of Natural Resources held a promotion meeting on mineral resources management and a new round of mineral prospecting breakthrough strategic actions to summarize and review the work in 2023, analyze the current mineral resource management and geological prospecting. Facing the situation, plan and deploy key tasks for 2024.

The meeting pointed out that in 2024, in accordance with the deployment arrangements of the Central Economic Work Conference and the National Two Sessions, we must continue to improve mineral resource management, continue to carry out a new round of in-depth mineral prospecting breakthrough strategic actions, and do everything possible to find large mines, find good mines, and find urgently needed mines., to build momentum for the development of new productive forces, and provide energy resource guarantees for promoting Chinese-style modernization. The first is to continuously deepen the reform of mineral resources management and build a long-term mechanism to prosper the mining market; the second is to continue to carry out a new round of mineral prospecting breakthrough strategic actions and strive to fully complete the "14th Five-Year Plan" goals and tasks; the third is to comprehensively promote green exploration and Green mine construction supports high-quality development with high-level protection; the fourth is to vigorously strengthen scientific and technological innovation and talent training to cultivate new productive forces in the mining field; The fifth is to proactively perform responsibilities, strengthen overall coordination, and ensure the implementation of various key tasks.

02

The Ministry of Natural Resources issued the "Notice on Improving the Implementation and Management of Mineral Resources Planning" to fully implement the national resource security strategy

IMPORTANT NEWS

The official website of the Ministry of Natural Resources, March 15, recently, the Ministry of Natural Resources issued the "Notice on Improving Matters Related to the Implementation and Management of Mineral Resources Planning"(hereinafter referred to as the "Notice") to fully implement the national resource security strategy and give full play to the leadership and support of mineral resources planning. Role, serve the overall reform of mineral resources management and breakthrough strategic actions for mineral exploration, better guide the rational exploration and mining of mineral resources, help increase reserves and production, and promote green transformation and high-quality development of the mining industry.

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It is reported that the "14th Five-Year Plan" national mineral resources plan was jointly issued and implemented by seven departments. All mineral resources master plans for 31 provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction Corps were approved by the Ministry of Natural Resources and issued and implemented by all provinces (autonomous regions, municipalities). In addition, more than 2000 municipal and county-level mineral resources master plans have been prepared and implemented across the country. The mineral resources planning system at the national, provincial, municipal and county-level levels has been fully formed. Various localities and departments have coordinated and cooperated according to the division of responsibilities, and the implementation of the plan has achieved remarkable results.

03

Jiangxi Province further strengthens the management of the entire chain of mineral resources and moves towards a strong mining province

IMPORTANT NEWS

Chinanews, March 15, the reporter learned from the press conference of the "Implementation Opinions on Further Strengthening the Management of the Whole Chain of Mineral Resources"(hereinafter referred to as the "Opinions") that the "Opinions" will further enhance the development, utilization, protection and management of mineral resources in Jiangxi Province, and promote Jiangxi Province from a "major mining province" to a "strong mining province".

According to reports, the "Opinions" have a total of 6 parts and 24 articles. The main contents include setting out clear requirements in optimizing the layout of exploration and development areas, strengthening the management and control of three control lines, coordinating the adjustment of ecological protection red lines and the integration and optimization of natural reserves; Clarify implement a new round of mineral prospecting breakthrough strategic actions and encourage "mineral prospecting" and comprehensive exploration; Promote resource conservation and utilization, improve the level of development and utilization of mineral resources, and deal with mining enterprises that fail to meet the "three rates" level in accordance with laws and regulations.

The "Opinions" also put forward new measures for the supervision of mineral resources. The "Opinions" focus on proposing new measures for mineral resources supervision from three aspects: establishing a joint supervision and investigation working mechanism, strengthening joint supervision of key links, and strengthening inspection and verification of mining, which will further promote the high-quality development of the mining economy in Jiangxi Province. The "Opinions" have measures in clarifying key minerals and key areas, increasing mineral exploration efforts, and promoting scientific and technological research in mineral exploration, which will further promote the increase in reserves and production of important mineral resources in Jiangxi Province.

04

贵州省地矿局强力推进“富矿精开”，年内将实施新一轮找矿突破战略行动项目of 41

IMPORTANT NEWS

China Mining News, March 15, the Guizhou Province Bureau of Geology and Mineral Resources has recently released the "Provincial New Round of Exploration and Breakthrough Strategic Actions and the Organization and Implementation Plan for the" Rich Ore Refining "Project (third edition). A new round of exploration breakthrough strategic action projects will be implemented in a scientific and orderly manner within the year, and the" rich ore refining "will be vigorously promoted.

It is reported that "rich and refined development" is the biggest advantage and key move for Guizhou to build a modern industrial system, and it is also an important incubator for new quality productive forces. The implementation Plan consists of seven chapters, which make scientific arrangements for the implementation of a new round of strategic action for ore prospecting and the project of "refined development of rich minerals" from the aspects of organizational structure, project deployment, safeguard measures, and so on. It is emphasized that we should give full play to the basic, public welfare and strategic role of geological work, further promote a new round of strategic action of prospecting breakthrough around "refined development of rich minerals", and contribute geological and mineral resources to the practice of Chinese-style modern Guizhou. In the "implementation Plan", it is clear that the main leader of the bureau is the head of the special class, and the "National Outstanding engineer" is the leader of the expert guidance group, following the principle of overall chess, according to the project design and approval workload, time limit requirements and overall construction capacity, overall coordination and overall geological prospecting unit drilling construction team participation, a total of 14 geological teams fully cooperate, 1010 technical personnel into the work. During the year, the overall situation undertook 41 strategic action projects for a new round of mineral exploration and breakthrough at the provincial level, of which 15 were continued projects and 26 were newly opened. The main physical workload of the newly opened project in 2024 is 1810 square kilometers of regional geological survey, 3085 square kilometers of special geological survey of mineral resources, 3690 points of geophysical survey and 70843 meters of drilling. At present, 41 projects have started field geological work.

05

** Shandong Gold plans to acquire 70% equity of Changtai Mining for 471 million yuan, ** Add 16 tons of gold resources

IMPORTANT NEWS

China Securities Network News, on the evening of March 11, Shandong Gold announced that the company's proposal to acquire 70% equity of Baotou City Changtai Mining Co., Ltd.(referred to as "Changtai Mining") was reviewed and approved by the board of directors, with a purchase price of 471.1 million yuan.

It is understood that the Changtai Mining Kuangqu is located in the Uliji-Obulag copper and gold metallogenic belt. The area is rich in minerals, and a number of large and medium-sized deposits have been discovered in the surrounding area. As of June 30, 2023, Changtai Mining's core assets, the mining rights and prospecting rights, hold a total of 3.683 million tons of gold ore and 16148 kilograms of gold metal. The announcement shows that after the completion of the acquisition, Shandong Gold will add more than 16 tons of gold resources, and through prospecting and increasing reserves, it is expected that the amount of gold resources retained will increase to more than 20 tons by the end of 2024. According to the announcement, Changtai Mining has built a beneficiation plant and a tailings pond with an actual production capacity of 200 tons/day. At present, mine production is proceeding normally, and it is estimated that about 400 kilograms of gold will be produced in 2024. At the same time, the mine is carrying out exploration work on deep exploration rights and will submit a deep exploration report, which is qualified for boundary expansion.

Shandong Gold has long been committed to building a "world-class gold production base" and expanding its resource territory. The company stated that after the acquisition of Changtai Mining, the company will achieve a strategic layout of resources in the western region of Inner Mongolia from scratch and from point to point, which will help create a new gold mineral resource development base and enhance sustainable operation capabilities.

06

China Mining Resources acquires 65% stake in Kitumba Copper Mine in Zambia

IMPORTANT NEWS

Shanghai Securities News, March 15, China Mining Resources announced on the morning of the 15th that African Minerals Limited, a wholly-owned subsidiary of the company (abbreviated as "Afmin") and Momentum Ventures Limited (referred to as "Momentum") and Chifupu Resources Limited (referred to as "Chifupu") respectively signed the "Share Purchase and Purchase Agreement"(referred to as "this Agreement"). Afmin intends to acquire 50% equity interest in Junction Mining Limited (referred to as "Junction") held by Momentum and 15% equity interest in Junction held by Chifupu for a total benchmark consideration of US$58.5 million in cash.

Junction's main asset is the Kitumba copper mine project in Zambia. After the transaction is completed, China Mineral Resources will hold a total of 65% equity in Junction and 65% equity in the Kitumba Copper Mine Project. It is reported that the mining right 19820-HQ- LML owned by the target company Junction is a large-scale mining license with a mining right area of 248 square kilometers. The mining right is valid from November 2014 to November 2039.

The announcement stated that the Kitumba copper mine project is currently in the pending development stage. According to the resource estimation report issued by MSA Group (Pty) Ltd., a third-party independent organization on July 29, 2015, in compliance with the Australia JORC Code (2012 version), the cumulative amount of retained copper mineral resources discovered in the Kitumba copper mine area is 27.9 million tons, the amount of copper metal is 614,000 tons, and the average copper grade is 2.20%.

07

Brazil, Germany sign mining cooperation agreement

IMPORTANT NEWS

According to the BNAMerica website, Brazil and Germany recently signed a cooperation agreement on mineral resource mining and selection.

Alexandre Silveira, Brazil's Minister of Energy and Mines, said in a statement,"Brazil has one of the countries with the largest variety and quantity of mineral resources in the world. Through this partnership, we will exchange technology and experience in upstream and downstream integration of the mining industry to promote mining development." We seek foreign investment and international partners to work to ensure that the mining industry is safer and more sustainable to drive the development of the entire mining industry,"he added.

Under the agreement, the two countries commit to strengthening cooperation in research, exploration, development, beneficiation, processing and recycling throughout the mining value chain.

08

America's largest lithium mine will receive more than US$2 billion in government loan

IMPORTANT NEWS

Global Geology and Mineral Information System, March 15, Lithium Americas Corp., which is developing the largest lithium mine in the United States, in Nevada It is expected to receive more than US$2 billion in loans from the U.S. government.

The money comes from the U.S. Department of Energy and will be used to fund American Lithium to build a lithium carbonate processing plant. The project is adjacent to the US$2.2 billion Thacker Pass lithium mine invested by American Lithium. Sacpas is one of the most promising mines in the United States to produce lithium for power batteries.

It is understood that the funds will become the largest loan provided to a mining company in the history of the U.S. Department of Energy's Loan Programs Office (LPO), as the U.S. government strives to build a local supply chain for key minerals. General Motors has invested US$650 million in Lithium America and will become a long-term buyer of the project.

09

Australia and Vietnam start key mineral cooperation talks

IMPORTANT NEWS

According to a report quoted by Reuters on the Mining.com website, Australia Prime Minister Anthony Albanese said on Thursday that he would upgrade his relationship with Vietnam to a comprehensive strategic partnership to promote diversification of supply chains and reduce external dependence.

The two countries said in a joint statement that such a partnership would support expanding cooperation on a range of areas, including climate, environment and energy, defense and security, and economic participation and education. On Thursday, Albanis and Prime Minister Pham Minh Zheng also jointly witnessed the exchange of 12 cooperation documents, including energy, minerals, agriculture, banking and finance, the Vietnamese government said. The statement said,"The annual Energy and Minerals Ministerial Dialogue will advance cooperation between the two sides in the energy and resources fields, including key mineral supply chains."

According to data from the U.S. Geological Survey (USGS), Vietnam's rare earth (REO) reserves are approximately 22 million tons, ranking second in the world. Vietnam's rich rare earth resources have attracted the attention of Australia mining companies. Blackstone Minerals Ltd. A cooperation agreement has been reached with Vietnam Rare Earth JSC (VTRE) to jointly develop the Dong Pao rare earth mine in Lizhou Province. In April 2023, Australian Strategic Materials signed a binding agreement with Vietnam Rare Earth Company (VTRE) to purchase 100 tons of processed rare earth ore from VTRE every year and commit to negotiate a long-term supply agreement.

10

Australia supports US$550 million to build a third rare earth factory

IMPORTANT NEWS

According to a report on the Mining.com website on March 14, Australia Prime Minister Anthony Albanese revealed on Thursday that the government will provide up to A $840 million (US$550 million) for Arafura Rare Earth Project in the Northern Territory. Arafra expects the funds, which are mainly government loans, to be used for the Nolans project north of Alice Springs in central Australia, hoping to obtain investment from both international and commercial financial institutions.

The project will become Australia's third rare earth processing plant, with Lynas Rare Earths 'Kalgoorlie rare earth plant and Iluka Resource's Eneabba rare earth plant being built in the west of the country.

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