On 2 August, the mining rights of a basalt quarry for construction in Shiniuling, Muzi Town, Gangnan District, Guigang City, Guangxi was listed for quotation on the Public Resource Trading Centre of Guigang City. CR Cement once again released good news of winning the bid for the mining rights at the price of RMB1.2008 billion, marking the successful landing of another large-scale mining project of CR Cement in Guangxi.
The mining rights in Gangnan District, Guigang City, Guangxi, which CR Cement has won the bid, has an assigned mining concession area of 1.2618 km square with assigned ore reserves of approximately 296.1 million tons. The design annual production capacity is approximately 9.7 million tons, among which, the annual production capacity of basalt for construction stone is approximately 8.0 million tons, whereas the annual production capacity of surrounding rock for comprehensive utilization is approximately 1.7 million tons. The term for the assigned mining rights is 30 years (including 0.9 years of construction period for the mine).
In order to achieve the target of "Building Another China Resources Cement", CR Cement has been actively promoting new business development including aggregates, prefabricated construction and co-processing. We have been making constant efforts regarding the aggregates business and have achieved remarkable results. The successful bid for the mining rights of this large-scale basalt quarry for construction fully demonstrated the confidence and determination of CR Cement to strengthen and expand the aggregates business so as to comprehensively assist the Company to achieve the strategic development goals of the "Fourteenth Five-Year" period.
Please refer to the Chinese version for more details.
CR Cement successfully won the bid for the mining rights of a basalt quarry for construction in Shiliuling of Guigang City
