Gelonghui, December 28 | Ningbo Fuda (600724.SH) announced that the limestone mine currently supporting the cement production line of Xinping Yingzhou Cement Co., Ltd. (“Xinping Company”), the holding subsidiary of the company, has insufficient reserves to support subsequent production development needs over time. In order to guarantee a stable supply of raw materials for production, reduce production costs, and improve market competitiveness, Xinping Company needs to obtain new mining resources.
On November 15, 2023, the mining rights for the Piqemo Construction Stone Limestone Mine, Yangwu Town, Xinping County, Yuxi City, Yunnan Province (“limestone mining rights” or “transaction target”) were sold by online listing on the National Public Resources Exchange Platform (Yunnan Province) online trading system (New Trade Mine Notice [2023] No. 1). On December 27, 2023, Xinping Company competed for mining rights for the limestone mine with RMB 21.33 million and signed a “Mining Rights Transaction Confirmation” with the Xinping Yi and Dai Autonomous County Government Procurement and Sale Center.
