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Business Overview
Project Overview
Resources and Reserves
We currently have three mining projects with valid mining and safety production permits: Project No. 2., Project No. 20 and Project Baiganhu. Project No. 2 supplies copper-nickel ore with an annual operation scale of 30,000 tonnes. Its mining permit and safety production permit will expire in June and August 2013, respectively. Project No. 20 also supplies copper-nickel ore and has an annual operation scale of 150,000 tonnes. Its mining permit and safety production permit will expire in June 2018 and January 2012, respectively. Project Baiganhu supplies lead-zinc ore and has an annual operational scale of 300,000 tonnes; its mining permit and safety production permit will expire in November 2013 and March 2014, respectively.

Apart from the three mining projects in Xinjiang, we hold also seven exploration permits for Hami, Xinjiang and two exploration permits for Shaanxi Province. Our exploration permits for copper-nickel ores of Project H-989, Project Heishan and Project Huangshan will expire in May 2014, January 2014 and December 2012, respectively.

The exploration permits for Project Hongshanpo’s and Project Xidagou’s lead-zinc ore will end in December 2013 and January 2014. The exploration permit for Project Baiganhu’s gold operation and Project Yinaoxia’s copper-gold ore will expire in May 2014 and January 2014, respectively.

In addition, through acquisitions, we will hold the exploration permits for Project Huaba and Project Huangjinmei. The exploration permit for Project Huaba’s vanadium ore and Project Huangjinmei’s gold ore terminated in April and October 2011, respectively. The mining permits for Project Huaba and Project Huangjinmei are expected to be granted within 2012.