Updated information from the Vietnam Department of Geology and Minerals (under the Ministry of Agriculture and Environment) indicates that during the implementation of the project, the agency discovered 12 gold ore sites, with estimated resources of more than 10 tons of gold and over 16.4 tons of silver. “This serves as an important foundation for advancing comprehensive digital transformation in the geology sector, supporting state management, resource planning, and attracting investment in sustainable mineral exploitation,” a representative of the project said.

Japan is currently in talks with India on jointly exploring rare earth mineral deposits in Rajasthan. The Japanese government intends to dispatch experts to the site and is expected to provide mining technology support to Rajasthan.

On June 3 (Tuesday), the Peruvian government acknowledged for the first time the existence of large-scale informal copper mining, and warned that high prices could lead to an increase in such activities in the near future. Jorge Montero, the Minister of Energy and Mines, told foreign media in Lima on Tuesday that the Peruvian government remained vigilant about large-scale informal copper mining, particularly in the area where mining rights belong to the Las Bambas copper mine operated by China's MMG Ltd. "This is the largest informal copper mining operation we have discovered so far," Montero said. "It is alarming that we already have large-scale copper mining operations in that area." The informal mine, named Apu Chunta, is operated by the indigenous community of the Pamputa tribe. Its annual production is estimated at 30,000 mt, worth approximately $300 million at current prices. Although Pamputa owns the land, Las Bambas holds the rights to mine copper. The mining company also plans to build an open-pit mine in the area in the 2030s, for which it must purchase land from the community. Informal mining activities and conflicts between mineral resource owners and concession holders have become a critical issue in Peru's mining industry, and the government is striving to find a balanced solution. Peru's rich mineral deposits have attracted thousands of small-scale miners, who mainly operate on land without mining rights. Informal operators have encroached on exploration projects operated by Southern Copper Corp. and First Quantum Minerals Ltd. The minister also mentioned that Teck Resources Ltd.'s Zafranal project had been affected. To be sure, informal copper production remains negligible compared to formal production. (Wenhua Comprehensive)

[KoBold, Backed by Gates and Bezos, to Acquire Stake in Congo Lithium Project] KoBold Metals, a mining startup backed by Bill Gates and Jeff Bezos, is expanding its footprint in the Democratic Republic of the Congo (DRC) after reaching a framework agreement with AVZ Minerals to acquire its stake in the Manono lithium mine. The agreement aims to resolve a long-standing ownership dispute and develop one of the world's largest hard-rock lithium deposits, a key component in EV batteries. The Manono project, located in southeastern DRC, has been mired in legal disputes since 2023, when the Congolese government revoked AVZ's mining rights and subsequently awarded a portion of the deposit to China's Zijin Mining. KoBold's proposed acquisition includes a framework for AVZ to receive appropriate compensation for relinquishing its interests, enabling KoBold to develop the southern part of the deposit while Zijin Mining retains control of the northern region. The company said the deal would allow KoBold to invest $1 billion in developing the project and bring its lithium resources to Western markets. This strategic move aligns with the US government's efforts to secure critical mineral supplies and reduce reliance on mineral sources controlled by China. US Senior Advisor for Africa Judd Devermont recently met with DRC President Félix Tshisekedi to discuss strengthening bilateral relations and promoting US investment in the country's mining sector. In February this year, the DRC offered the US exclusive access to critical minerals and infrastructure projects in exchange for security assistance, as its eastern region faces insurgencies backed by neighboring Rwanda. The Manono deposit is estimated to hold 669 million mt of lithium resources, making it a crucial asset in the global transition to clean energy. The acquisition, pending the signing of a final agreement and regulatory approvals, is expected to expedite the development of this critical resource while also benefiting the economic interests of the US and the DRC. KoBold, which focuses on using artificial intelligence to identify undeveloped critical mineral deposits, has approximately 60 active projects across four continents. In Africa, its primary focus is on Zambia, where the company discovered the largest copper deposit in a century last year. Entering the DRC means the company will have operations in two of Africa's largest copper-producing countries. Neither KoBold nor AVZ has disclosed the financial terms of the agreement.The completion of the deal depends on resolving ongoing legal disputes and obtaining necessary approvals from relevant authorities. Source: mining.com 【BYD and Tsingshan Holding Abandon Plans to Build Lithium Plant in Chile】 According to a report by local newspaper Diario Financiero on Wednesday, Chinese automaker BYD and metals giant Tsingshan Holding have abandoned plans to build a lithium processing plant in Chile. BYD has submitted a withdrawal notice to the Ministry of National Assets. Tsingshan Holding informed Corfo, Chile's Economic Development Agency, through its subsidiary Yongqing Technology that it would no longer proceed with its lithium battery project. Corfo confirmed the withdrawal and noted that Tsingshan Holding had not yet been officially registered in Chile. In 2023, Corfo had selected these two companies as strategic investors to develop value-added lithium products, such as cathode materials and batteries. The agreement included obtaining lithium carbonate at preferential prices and with guaranteed supply from SQM (Chile's state-owned partner and the world's second-largest lithium producer) until 2030. In exchange, the two companies committed to investing a total of US$523 million in Chile and creating nearly 1,200 jobs. The collapse in lithium prices, global market instability, and delays in bureaucratic procedures derailed both projects before the contracts could be finalized. BYD was the first to raise concerns. Diario Financiero reported that a year ago, the company had pointed out delays in acquiring land for its US$290 million cathode material plant project in Antofagasta, which was originally planned to produce 50,000 mt of lithium iron phosphate (LFP) annually. The plant was intended to produce cathodes, the most expensive component in EV battery cells. Corfo acknowledged the company's concerns and stated that BYD had requested further information to reassess its plans. BYD, known for producing affordable EVs and having in-house manufacturing capabilities, had originally planned to anchor its LFP cathode material production in northern Chile. Tsingshan Holding, as one of China's largest privately-owned conglomerates, had originally planned to invest US$233 million to build a battery plant in Mejillones, north of Antofagasta. Both projects have now been officially shelved. Chile's current lithium strategy, launched by President Gabriel Boric in 2023, requires companies like Albemarle (NYSE: ALB) and SQM (NYSE: SQM) to allocate a portion of their production at preferential prices to companies willing to invest in local lithium-based technologies. Despite the setback of BYD and Tsingshan Holding's withdrawal, Chile remains a core player in the global lithium market, with production second only to Australia. Source: mining.com [Lake Resources Initiates Strategic Review of Argentine Lithium Project] Australia's Lake Resources announced on Wednesday that it has initiated a strategic review of its flagship Kachi lithium project in Argentina, stating that despite the surge in long-term demand for battery metals, the project's assets remain significantly undervalued. The review aims to explore various options, including selling a stake in the project and the potential sale or merger of the lithium developer. According to the company, the Kachi lithium brine project is the largest independent project in the "Lithium Triangle" region of South America, with total resources exceeding 10.6 million tonnes of lithium carbonate equivalent (LCE). Lake Resources stated that the decision to explore strategic alternatives is also supported by recent cases where companies with lithium projects in Argentina have received proposals that far exceed their current market capitalizations. Source: mining.com [Peloton Minerals Obtains Drilling Permits for North Elko Lithium Project in Nevada] On May 6, 2025, Peloton has obtained two drilling permits from the US Bureau of Land Management (BLM) within the boundaries of the North Elko Lithium Project (NELP) in northeastern Nevada, covering 442 mining claims, 37 square kilometers, or 14.25 square miles. Under these permits, a total of 24 drill pads have been approved, with the possibility of adding more drill pads with BLM approval. One drilling permit covers the eastern region of NELP, and the second permit covers the central and western regions. The maximum disturbance area for each drilling permit is limited to 5 acres (totaling 10 acres). According to the BLM's calculation formula, the total disturbance area for the current drilling plan and drill pads between the two permits is 5.12 acres. In early 2023, the relevant mineral exploration company announced the discovery of significant clay lithium resources in an area adjacent to the NELP mining claims it has held since 2018. Since the discovery, the company has reported an inferred resource of 11.24 million tonnes of LCE, with a grade of 3,010 ppm Li, considered the highest-grade lithium clay resource in North America. NELP is currently in the drilling phase, following surface exploration work conducted by Peloton, including airborne hyperspectral imaging, soil geochemical surveys across the entire mining area, geological mapping, prospecting and sampling, X-ray diffraction analysis of over 500 surface samples, and tTEM surface geophysical surveys. The results of each phase are summarized below: Hyperspectral imaging data shows that lithium-bearing clay layers frequently outcrop at the surface across almost the entire mining area. Soil geochemical analysis indicates elevated lithium anomalies (up to 18 times the background value), covering an area exceeding 25 square kilometers or 9.65 square miles. Geological mapping indicates that NELP is located in an alkaline paleolake environment within a tectonic depression bounded by north-dipping normal faults. X-ray diffraction analysis reveals that NELP is situated within layered alkaline lake sediments and pyroclastic rocks. The mineralogical characteristics of the layered volcanic rocks are consistent with magma that could be a source of lithium. tTEM surface geophysical data show a clay-rich horizon beneath almost the entire {{ore}} property. Source: junior mining network

According to a report by Mining.com citing the Financial Times (FT), KoBold Metals, a company backed by Bill Gates and Jeff Bezos, is expanding its operations to the Democratic Republic of the Congo (DRC) and plans to invest billions of US dollars in this resource-rich African country. The newly appointed general manager of the company, Benjamin Katabuka, told the FT that KoBold hopes to make "big discoveries" in the DRC. The DRC is currently the world's largest producer of cobalt and Africa's largest producer of copper. He added that KoBold will apply to the DRC government for exploration permits for copper, cobalt, and lithium ore, all of which are abundant in the DRC but underdeveloped. The FT, citing Katabuka, reported that these investments could amount to "billions of US dollars". Since Freeport-McMoRan divested its stake in the Tenke Fungurume copper mine, few US companies have ventured into the DRC. Katabuka said that the DRC government is "keen to invite Western investors to invest". KoBold's arrival in the DRC coincides with the government's negotiations with the US on a minerals-for-security agreement. Regarding country risks, Katabuka candidly admitted that operating in the country is "difficult", but he emphasized that production will be carried out to high standards. KoBold specializes in using artificial intelligence to identify undiscovered critical mineral deposits and has 60 projects across four continents. In Africa, the company's main destination is Zambia, where it announced last year the discovery of what is believed to be the largest copper mine in Zambia in a century. Expanding into the DRC means that the company is now active in Africa's two largest copper-producing countries. Earlier this year, the company also headed to Namibia to explore for lithium and nickel ore.

Information from Xingye Yinxi's 2024 Annual and 2025 Q1 Performance Briefing indicates the following: 1. The status of several of the company's future construction projects, such as Yinman Phase II and Yubang. Response: The status of several of the company's future construction projects is as follows: ① Yinman Phase II has already obtained project approval and is actively communicating with the local government to advance land acquisition. ② Yubang Mining's 8.25 million mt/year expansion project for mining and beneficiation is currently applying for construction permits from the Ministry of Emergency Management. Construction can commence once the permits are obtained. ③ The Atlantic Tin project has already obtained all necessary pre-construction permits, including mining rights, environmental impact assessments, and land acquisition. Construction can commence once the above conditions are met, as required by the local government. The project is expected to commence production in Q4 2027, with an estimated annual tin metal production capacity of approximately 6,000 mt upon reaching full production. 2. What is the reason for the company's consideration of issuing overseas bonds? Response: The company plans to apply to the National Development and Reform Commission (NDRC) to issue USD 300 million in overseas bonds, primarily to support the subsequent construction of the Morocco project, further broaden the company's financing channels, optimize its financing structure, and promote the sustained, healthy, and rapid development of its business. The final amount of funds raised will depend on the NDRC's approval and the company's issuance situation at that time. 3. How is the cost of Atlantic Tin calculated, and what is the ore processing capacity? Response: Based on the information currently available to the company, according to feasibility studies and designs, the average grade of tin in the Atlantic Tin project is 0.55%, with a recovery rate of approximately 70%. The estimated cost of mining and beneficiation per mt of ore is around RMB 200. The mine's current designed capacity is 900,000 mt of ore per year for mining and beneficiation. After taking over the mine, the company plans to fully promote its expansion to 1.5 million mt of ore per year for mining and beneficiation. 4. Could Mr. Zheng introduce the mineral resources and exploration prospects of the Atlantic Tin project? Response: The Morocco project covers four mining licenses and 140 square kilometers, including an 8-kilometer-long cassiterite-tourmaline mineralization belt. At the northeastern end is the Achmmach tin mine, with over 300 boreholes and 110,000 meters of drilling, indicating 213,300 mt of indicated resources with an average grade of 0.55%. The main ore vein is approximately 1.5 kilometers long, with no boreholes having exhausted the ore body, indicating significant potential for deep exploration. To the southwest of the mineralization belt is the BauEIJaj tin mine, with mining licenses covering approximately 1 kilometer in length and a relatively low level of exploration. In the middle is the SAMINE fluorite mine, with a 5-kilometer-long mineralized metamorphic belt and the discovery of ore-bearing granite. Tin mineralization is closely related to granite. Field surface reconnaissance and sampling have revealed a 20-meter-thick ore body with a tin grade of approximately 1%, representing a significant potential area for major reserve increases. 5. Progress on the restructuring of the controlling shareholder. Reply: The restructuring of the controlling shareholder, Xingye Group, is currently proceeding in an orderly manner in accordance with the restructuring plan. As far as we know, there are no substantive obstacles. If there are any phased developments, the company will issue an announcement at the earliest opportunity. 6. In 2024, why were the sales volumes of metals such as silver, tin, and antimony lower than the production volumes of the company? Reply: In daily production and sales, the company will appropriately adjust its sales strategies and pace based on market conditions and fluctuations in metal prices. 7. What is the approximate interest rate level for the company's offshore bond issuance? Reply: The interest rate for the offshore bond issuance will be determined based on the external debt market conditions at the time of issuance, pending approval from the National Development and Reform Commission (NDRC). 8. Will the construction of Yinman Phase II affect the existing production at Yinman? Reply: Since Q3 2023, the underground engineering and shaft and drift development for Yinman Phase II have commenced. By the end of 2024, approximately 50% of the total work volume for shaft and drift development had been completed. The shaft and drift development for Yinman Phase II will indeed have a certain impact on the mining operations of Yinman Phase I, but it will not cause a significant impact. The company will make every effort to mitigate the related impacts, which will ultimately be eliminated upon the completion of the shaft and drift development for Yinman Phase II. 9. The company has numerous future construction projects, resulting in significant capital expenditures in the coming years. What is the current cash flow situation of the company? Reply: As the company's future projects progress, the comprehensive credit lines extended by financial institutions to the company are gradually increasing. At the same time, in conjunction with its own cash flow, the company is also gradually broadening its financing channels and reducing financing costs. The company currently has a sound cash flow situation and abundant financing tools and space, which can ensure project funding and the company's stable operation. Investors can rest assured. 10. Current situations of Bosheng Mining and Qianjinda Mining. Reply: ① Bosheng Mining's production last year was affected by an accident. Currently, the beneficiation plant of Bosheng Mining has officially resumed production on April 24, 2025. There are approximately 240,000 mt of ore on the surface, which can supply the beneficiation plant of Bosheng Mining for one and a half years. Next, Bosheng Mining will accelerate the implementation of the regulatory authorities' rectification requirements for the roadway cross-section, simultaneously carry out technological transformation of the mining area, and optimize the mining methods and processes. Prior to implementing the aforementioned rectifications and technological transformations, the main tasks include preparing field trip reports, designing technological transformation plans, and fulfilling relevant reporting and approval procedures. Bosheng Mining will make every effort to advance the related work and strive for an early resumption of operations in the mining area. ② Qianjinda Mining achieved a net profit of approximately 245 million yuan in 2024, representing a year-on-year increase of 39.16% and achieving a year-by-year increase in performance. 11. Will the reserve increase be conducted before the construction of the second phase of Yinman? Reply: The reserve increase is not a prerequisite for the construction of the second phase of Yinman. 12. If shield tunneling machines are needed for mining, will it be for the second phase of Yinman or Yubang, or both? Reply: The "Strategic Cooperation Framework Agreement" signed by the company with China Railway Tunnel Group is an indicative framework agreement. If a formal cooperation agreement is signed subsequently, the company will disclose the information based on the progress. If shield tunneling technology can be applied in the future, both the second phase of Yinman and Yubang Mining can utilize this technology for mine development. 13. Will the second phase of Yinman mainly produce silver or tin? Reply: The products of the second phase of Yinman are consistent with the first phase, mainly producing lead, zinc, silver, copper, tin, and antimony. 14. Can you provide a detailed introduction to the deep exploration and reserve increase of Yinman and Yubang? Reply: Currently, the company is fully engaged in the exploration work of Yinman Mining, Yubang Mining, and other key projects, and invests a significant amount of exploration funds annually. According to the current exploration work, the deep rock mass of Yinman Mining contains ore, and there is good prospecting potential in the deep, with geological conditions suitable for forming porphyry deposits. Yubang Mining has already drilled over 50,000 meters with good results, and the company will fully promote the exploration and reserve increase work of Yubang Mining in the future. 15. May I ask how the subsequent planning of Budun Silver Mine is, will it be injected into the publicly listed firm before construction, or after the construction is completed? Reply: Currently, the controlling shareholder Xingye Group is executing the restructuring plan. After the restructuring plan is completed, it will be determined based on subsequent arrangements. 16. What metal varieties have been discovered in the deep exploration of Yubang Mining? Reply: According to the current exploration, the main varieties discovered are copper, silver, and tin. 17. Can the company increase the dividend ratio to allow investors to share the company's development achievements? Reply: Your suggestion will be promptly fed back to the board of directors. The company will formulate a reasonable profit distribution plan based on future capital expenditures and the sustainable development of the company. 18. I noticed that the company has a futures hedging quota of 500 million, will this pose financial risks? Reply: The company has approved a quota of 500 million annually in recent years, but the final implementation scale is relatively small. Moreover, the company has strict systems and a professional leading group to guide related work, effectively controlling the risks of hedging. 19. Safety issues have always been a concern for everyone, can you elaborate on this! Response: Safety production is the top priority for our company. We regard the safety of our employees as the lifeline of the enterprise. The company has established a safety responsibility system and created a practical training system that integrates responsibilities with business operations and combines theory with practice, continuously improving training efficiency and achieving excellent training results. With the acceleration of mine mechanization, targeted risk management and control measures have been formulated for safety risks in mines. For example, regarding the risk of roof management, the company has implemented a strict hierarchical roof management model, scientifically formulated control measures, and continuously enhanced the effectiveness of roof risk management. Another example is the risk of equipment-related injuries. The company has currently implemented a "three fixed" management approach, which assigns fixed personnel, machines, and locations. After implementing this management measure, there has been a qualitative improvement in management effectiveness. The above are just a few examples. Regarding mine safety management, we are committed to ensuring comprehensive risk management and control, timely governance of potential accidents, and safeguarding the safety of our employees and the high-quality development of the enterprise. We are confident in our ability to excel in safety management. 20. Could you introduce Mr. Zheng's professional background and work experience? When did he join the company? What key roles has he played in the company's subsequent development? Response: Introduction to Mr. Zheng Wenbao, the company's Chief Geological Engineer: ① Academic and Work Experience: In June 2012, he earned his Ph.D. in Mineralogy, Petrology, and Mineral Deposit Geology from Chengdu University of Technology. In the same year, he was hired by the Institute of Mineral Resources, Chinese Academy of Geological Sciences, and has been engaged in mineral resource exploration and research in Tibet. During this period, he concurrently served as the Chief Consultant for Tibet Huayu Mining. In 2018, in response to the State Council's call for scientific and technological talents to leave their posts to start businesses, he began his entrepreneurial journey. In 2019, he co-founded a geological exploration company with Pengxin Resources in Shanghai, responsible for geological exploration and mergers and acquisitions of projects in Africa. In April 2021, he was hired as the Chief Geologist of Xingye Yinxi. ② Main Work Achievements: During his more than ten years of work in Tibet, he, along with his mentor, completed the exploration and research of super-large mineral deposits such as the Jiama Copper-Polymetallic Mine owned by Tibet Huatailong Mining, the Zhaxikang Antimony-Lead-Zinc-Silver Mine owned by Tibet Huayu Mining, and the Tinggong Copper Mine owned by Tibet Mining. Since joining Xingye Yinxi, he first discovered the variability in the occurrence and spatial distribution of ore in the main Yiman No. 17 tin-polymetallic orebody, directly guiding breakthroughs in deep prospecting of the No. 17 orebody and improving ore dressing recovery rates. Secondly, he discovered the existence of an ancient volcanic crater between Yiman and Budengyingen, which led to the discovery of the deep porphyry tin-copper-silver deposit at Yiman. As exploration and research efforts continue to deepen, Mr. Zheng Wenbao and the company's geological team will strive to achieve even greater prospecting results in projects such as Yiman, Yubang, Atlantic Tin, and Xilin. 21. The company's contract liabilities increased significantly in Q1 2025. What are the specific reasons for this increase? Reply: The main reason for the increase in contract liabilities is the rise in advance payments received from customers. According to the 2024 annual report released by Xingye Yinxi, in 2024, the company achieved an operating revenue of 4,270.3872 million yuan, up 15.22% YoY; total profit reached 1,765.2261 million yuan, up 64.69% YoY; and net profit attributable to shareholders of the publicly listed firm was 1,529.8586 million yuan, up 57.82% YoY. Xingye Yinxi introduced that in 2024, the proportion of operating revenue from the company's main mineral products in the total operating revenue was as follows: tin ore contributed 1,415.3906 million yuan, accounting for 33.14%; silver ore contributed 1,165.409 million yuan, accounting for 27.29%; zinc ore contributed 981.0361 million yuan, accounting for 22.97%; iron ore contributed 234.7111 million yuan, accounting for 5.50%; lead ore contributed 230.3635 million yuan, accounting for 5.39%; copper ore contributed 129.711 million yuan, accounting for 3.04%; antimony ore contributed 62.8116 million yuan, accounting for 1.47%; and gold ore contributed 13.7186 million yuan, accounting for 0.32%. Among them, the combined operating revenue from tin ore and silver ore accounted for 60.43% of the total. Xingye Yinxi stated in its annual report that during the reporting period, the company's main products included non-ferrous metals and precious metals such as silver, tin, zinc, lead, iron, copper, antimony, and gold. Xingye Yinxi indicated that in 2024, the company made solid progress in various aspects and successfully completed its annual production and operation tasks. Relying on the high-quality operating mines under its umbrella, the company achieved dual growth in production and efficiency , with the effectiveness of its strategic layout becoming increasingly prominent. Xingye Yinxi stated that in 2024, the company produced 8,901.85 mt of tin ore, up 14.58% YoY; 228.93 mt of silver ore, up 14.68% YoY; 59,740.98 mt of zinc ore, up 8.67% YoY; 16,958.57 mt of lead ore, up 8.05% YoY; 2,906.43 mt of copper ore, up 4.94% YoY; 1,351.70 mt of antimony ore, up 32.58% YoY; and 339,100 mt of iron ore, down 3.74% YoY. From 2022 to 2024, the production of the company's main products (excluding bismuth, iron, and gold) increased year by year. Xingye Yinxi introduced that as of the end of 2024 (including Yubang Mining), the company's proven reserves of various metals within the scope of mining licenses for each mine were as follows: Xingye Yinxi also disclosed its 2025 business plan in its annual report: In 2025, the board of directors will strictly comply with legal and regulatory requirements, fully perform the duties entrusted by the "Articles of Association," and give full play to the core role of the board of directors in corporate governance.Guided by the new development philosophy, the Board of Directors will focus on advancing the following strategic deployments: (1) In terms of strategic depth, the Company will solidify its traditional foundation in Inner Mongolia's mining sector, reasonably arrange the new mining sectors in Tibet-Xinjiang-Yunnan, and actively explore new overseas mining spaces. At the resource structure level, the Company will focus on silver and tin as its core businesses, steadily integrate copper and gold resources, and diversify its resource portfolio. (2) The Company will accelerate the capacity expansion and technological upgrading of existing mines, with a focus on advancing the construction of the 2.97 million mt/year expansion project of Yinman Mining and the 8.25 million mt/year expansion project of Yubang Mining. It will continuously promote technological transformation, strengthen the advancement and commercialization of scientific research projects in mining and beneficiation, further enhance the technological breakthroughs in existing production technologies, and overcome technological bottlenecks. (3) The Company will continue to increase investment in geological exploration in and around existing mines, accelerate the conversion of resource reserves at Yinman Mining, strive to achieve breakthroughs in exploration and reserve augmentation, promote the upgrading of the Company's resource reserves, and provide sufficient ore reserves to ensure the stable subsequent production of mines. (4) The Company will prioritize the implementation of the main responsibility for work safety, build a comprehensive safety defense system, effectively enhance the safety awareness and emergency response capabilities of all employees, and resolutely prevent all types of accidents. (5) The Company will strengthen the strategy of revitalizing the enterprise through talents, establish a tiered and categorized training system, and focus on cultivating international and versatile talents. It will optimize the compensation and incentive mechanism, build a learning organization, provide employees with a diversified development platform, and enhance the overall quality of the team. (6) The Company will continuously strengthen corporate governance and internal control construction, improve corporate rules and regulations, refine the risk control system, enhance the scientific and efficient decision-making process, improve the level of standardized corporate operations, and promote the healthy, stable, and high-quality development of the Company.

The swift thawing of Arctic ice caps stands out as a clear result of climate change. Higher temperatures worldwide have sped up this process. It affects ecosystems, sea levels, and access to resources in big ways. The Arctic, once seen as a frozen area with little value for business, now shows new possibilities because of these shifts. Yet, this fresh access brings a downside. The delicate Arctic environment faces serious risks from human actions and industry growth.

Multiple Prospecting Achievements Praised by the Ministry of Natural Resources; Sichuan Geological Bureau Makes Repeated Contributions to Prospecting Breakthroughs—Recently, the Ministry of Natural Resources held a press conference to introduce a series of significant achievements since the implementation of the new round of strategic actions for prospecting breakthroughs. Among the highlighted discoveries were the Yajiang Murong lithium mine and the Mianning Haoniuping rare earth mine, both explored by the Sichuan Bureau of Geological and Mineral Exploration and Development (hereinafter referred to as the "Sichuan Geological Bureau"). Since the implementation of the new round of strategic actions for prospecting breakthroughs, the Sichuan Geological Bureau has remained committed to its mission of serving the nation through geological exploration and resource discovery. Seizing opportunities and taking practical actions, it has achieved numerous major breakthroughs in geological prospecting. A total of 333 geological and mineral projects have been submitted for inclusion in the database, with 101 new mineral deposits discovered, including 4 super-large deposits, 30 large deposits, and 45 medium-sized deposits, making significant contributions to geological prospecting.

[Russia plans to break its reliance on imported scarce metals and accelerate the development of lithium mining projects] According to TASS, Russia is expected to eliminate its dependence on imports of 12 types of scarce metals, including lithium and rare earth metals, by 2030. The director of the Federal Agency for Subsoil Use said, "Other minerals include niobium, tantalum, zirconium, and manganese. Due to a series of measures taken, we expect to eliminate the dependence on imports of 12 types of scarce raw materials by 2030. Part of the production will be exported." So far, Russia has not mined lithium, which is used in the nuclear power industry, energy storage systems, and electric vehicle batteries. However, according to a statement from Rosatom, a Russian state-owned nuclear energy company, several mineral deposits have begun to accelerate the development of lithium mining projects. The company estimates that Russia's domestic demand for lithium is about 400 to 700 tons per year. (Jinshi Data)

At the 2024 (19th) SMM Copper Industry Conference and Copper Industry Expo - 2024 SMM Strategic Consulting Summit Forum-Discovering Overseas Investment Opportunities in the Copper Industry Chain, jointly organized by SMM and Shandong Humon Smelting Co., Ltd., SMM Consulting Manager Wang Hemeng and SMM Senior Consulting Manager Fei Changyun shared the discovery of investment opportunities in the overseas markets.