Xinjiang Hongze Mining Invests 1 billion -1.2 billion yuan in a 20,000-ton Copper Mining Project

Xinjiang Hongze Mining Co., Ltd. plans to invest 1 billion -1.2 billion yuan in a 20,000-ton copper mining project in Wuqia County. So far,it has completed registration, and completed consolidation of 7 mining rights of copper, lead and zinc resources in Wuqia County. Currently,company registration change is underway.

This year, Xinjiang Hongze Mining Co., Ltd.plans to invest 260 million yuan in the M&A of mining enterprises. With Wuqia Tianzhen Mining Co., Ltd. as entity, it invests 300 million yuan to develop Huayuan, Yangye and Yangshugou Mines. It is planned that the project will be kicked off in September this year, and it is expected to be put into trial production in May 2013.

In 2013, the company plans to invest 570 million yuan to conduct further geological exploration in Huayuan, Yangye and Yangshugou Mines, with 670,000 meters of drilling. It is expected to complete mine development in-Tieketashi and Baixihutong by the end of September 2013, and realize operation of appropriate scale.

It is learned that the company strives to become an economically efficient and environmentally friendly non-ferrous metals mining company with the largest production scale in Xinjiang in 3-5 years.