Zangge Mining announced on October 9 that its wholly-owned subsidiary, Golmud Zangge Potash Fertilizer Co., Ltd., recently obtained the Real Property Rights Certificate (Mining Right) and Mining License issued by the Ministry of Natural Resources of the People's Republic of China.
The mine is named the Qarhan Salt Lake Potassium-Magnesium Mine of Golmud Zangge Potash Fertilizer Co., Ltd., covering an area of 724.3493 square kilometers, with a mining depth ranging from 2,680 meters to 2,658 meters in elevation. The extractable minerals include potassium salt as the primary resource, along with associated and coexisting minerals such as rock salt, magnesium salt, lithium ore, and boron ore. The mining right holder is the company's wholly-owned subsidiary, Golmud Zangge Potash Fertilizer Co., Ltd.
The obtained certificate and license will help ensure the long-term development of potassium salt resources, stabilize potassium chloride supply, support national food security, and clarify the usufructuary rights basis for the company's lithium resource development. This provides legal support for lithium extraction from salt lakes, contributes to the development of the new energy industry, promotes the comprehensive utilization of associated and coexisting minerals, maximizes resource value, and enhances the company's core competitiveness. However, the development and utilization of mineral resources are subject to factors such as natural conditions, mining technology, market demand, and policy changes, and the expected outcomes may involve uncertainties.
Edited by Cassie Li, lixiangying@mysteel.com
