On December 27, Gelonghui reported that FB MINING (02212.HK) announced that after successfully bidding for the land use rights, on December 27, 2024, the company's indirectly wholly-owned subsidiary, Xiangyang FB (as the assignee), has entered into land use rights transfer contracts for the acquisition of land use rights with (i) the Guanyintang Village Committee (as the transferor) and (ii) the Miaojiaogou Village Committee (as the transferor), with a total price of approximately RMB 11,400,000.
The acquisition is part of the group's plan to improve the access roads at the Yiduoyan project site and to provide additional space for mining facilities and machinery related to the Yiduoyan project. The group will apply for a change in the land use of these plots, and upon completion of the acquisition and change of land use rights, a road will be constructed on these plots to provide convenient access to the mining site.
Given that these plots are adjacent to the mining site of the Yiduoyan project, upon successful completion of the acquisition and subsequent change of land use for these plots, it is expected that the construction and expansion of roads between these plots and the mining site will improve access to the site, thereby increasing capacity and improving Logistics. Additionally, aside from the construction of roads, several parts of the Miaojiaogou plot will be used to provide additional space for mining facilities and machinery related to the Yiduoyan project. The anticipated strategic development of Infrastructure is expected to support the long-term sustainable development of the Yiduoyan project, contribute to the group's operational development, and be beneficial for its long-term Business development.
