Western Mining Yulong Copper acquired new mining warrants

On July 17, Tibet Yulong Copper Co., Ltd., a subsidiary of Western Mining Group, received the Mining License of the People's Republic of China issued by the Ministry of Land and Resources. The production scale of the new mining license of Yulong Copper Mine was 19.9 million tons/year.

Yulong Copper Mine is a large-scale porphyry and contact metasomatic mixed copper deposit, which is the largest single copper mine in China. The first-stage mining and selection scale has an ore processing capacity of 2.3 million tons/year. It mainly deals with oxidized ore and mixed ore of the Yuka copper mine skarn type No. 2 ore body. The oxidized ore grade is about 3.85%, and the mixed ore grade is about 2.09%. 

In recent years, the Western Mining Group has led Xi Jinping's new era of socialism with Chinese characteristics as the guide, thoroughly implemented the new development concept, and fully implemented the development strategy of “strengthening the main business of the mine, doing the refining and refining industry, making the resources of the salt lake, and realizing the new industry”, with the "four transformations" to implement the "four solid" major requirements, and constantly promote the development of quality changes, efficiency changes, power changes. The reconstruction and expansion project of Yulong Copper is an important project for the transformation and upgrading of the Group. The acquisition of the new mining warrants marks a major breakthrough in the preparatory work for the second phase of the reconstruction and expansion of Yulong Copper. In the next step, the Western Mining Group will carry out the second phase reconstruction and expansion project of Yulong Copper Mine as soon as possible, and it is expected to be completed and put into operation in two to three years. After completion, the company's copper mine production capacity is expected to increase to 23 million tons / year, which will greatly enhance the company's profitability and market competitiveness, and further transform the resource advantages into economic advantages, and promote the healthy and sustainable development of the company and local economy. (Source: Western Mining Group)