On October 16 2020, Zhaoqing Runxin New Materials Co., Ltd. ("Zhaoqing Runxin"), a subsidiary of China Resources Cement Holdings Limited ("CR Cement"), won the mining rights of the granite quarry for construction in Dapai Mining Concession, Fengkai County, Guangdong Province, for RMB3.21 billion (equivalent to approximately HK$3.69 billion).
The transfer duration of the mining right is 17 years, the mining area is 1.1736 km2, and planned annual production capacity is approximately 11 million m3 (equivalent to approximately 30 million tons). The designed utilization of the resource reserve is approximately 157 million m3 (equivalent to about 425 million tons). CR Cement will construct aggregates projects in the granite quarry for construction in Dapai Mining Concession, Fengkai County, Guangdong Province, which will utilize the logistical and synergetic advantages, cover the markets in the Guangdong-Hong Kong-Macao Greater Bay Area, lay the foundation for industry position, and promote the Company’s strategies of new business development.
Zhaoqing Runxin, as a joint venture between CR Cement and local state-owned enterprises, has set a precedent for the cooperation between CR Cement and local state-owned enterprises in the development of mineral resources. During the "14th Five-Year Plan" period, positioning in South China, CR Cement will proactively seize the opportunities for the extension of industry chain, fully leverage on the synergetic advantages of cement, concrete, aggregates, new materials and prefabricated construction, promote industrial integrative development, and consolidate the core competitive advantages or the Company.
