Tongling Nonferrous Metals Group (000630.SZ) held a controlling stake in its subsidiary China Railway Construction Tongguan, which was impacted by government policies.

Tongling Nonferrous Metals Group (000630.SZ) announced that the company recently received a report from its controlling subsidiary, China Railway Construction Tongguan Investment Co., Ltd. (referred to as "China Railway Construction Tongguan"), regarding electricity restriction and production reduction. The core asset of China Railway Construction Tongguan, the Mirador copper mine, is located in Ecuador, South America. Recently, due to insufficient rainfall and prolonged drought in Ecuador, major hydroelectric plants have experienced a decrease in water levels, leading to electricity supply shortages. In order to ensure the stable and orderly supply of electricity, the country has implemented a large-scale power outage/electricity restriction policy. As a result of the tight electricity supply, the Mirador copper mine's ore processing double system has been forced to adjust to the I-series production. On November 8, 2024 (Ecuador time), the Ecuadorian Ministry of Energy and Mines issued a document to the Mirador copper mine, requiring mining, steel and other industrial users, including the Mirador copper mine, to reduce their electricity consumption from national transmission lines to the minimum within 15 days from the date of the document. In accordance with the aforementioned requirement, the Mirador copper mine's ore processing double system will suspend production for 15 days.