On the morning of 29 August, Guigang Runlong New Material Co., Ltd. of CR Cement (a joint venture co-established with Guigang Agricultural Investment & Development Group Co., Ltd.), won the bid for the mining rights of a limestone quarry for alkali manufacture in Dongye Mountain, Shika Town, Qintang District, Guigang City, Guangxi, for a consideration of RMB226.4 million.
The mining concession of Dongye Mountain has an area of 0.84 km square with a total available resource of 141.49 million tons. The design annual production capacity is approximately 7.5 million tons, and the term for the assigned mining rights is 20 years (including 2 years of construction period for the mine).
This delisted mining rights are another large-scale aggregates mining rights successfully bid by CR Cement in Guigang City of Guangxi following the wining of the bid for the mining rights of a basalt quarry in Shiniuling, Muzi Town, Guigang City. This aggregates project will mainly develop fine calaium carbonate to realize the deep processing of products, further contributing to the achievement of the Company's "Fourteenth Five-Year" strategic goals.
Please refer to the Chinese version for more details.
Winning the bid for the mining rights of a limestone quarry in Dongye Mountain, Guigang City
