Optimize asset allocation. Jchx Mining Management (603979.SH) is planning to implement the Lonshi Copper Mine East Area Mining and Selection Project.

Jchx Mining Management (603979.SH) announced that the company plans to invest in the construction of the Lonshi copper mine Eastern District mining and selection project in the Democratic Republic of the Congo (DRC), with a total estimated investment of 751 million US dollars. According to the announcement, the Lonshi copper mine is located in the southeast of the DRC, under the jurisdiction of Sakania City, Katanga Province. Due to the distribution characteristics of the ore body, it is divided into the western district and the eastern district by the Lonshi fault. The western district mining, selection, and smelting project has been put into production in the fourth quarter of 2023, with an annual production of about 40,000 tons of copper metal after reaching full production. The copper ore body in the eastern district is buried deep, and two ore bodies numbered 6 and 7 are delineated based on the marginal grade TCu 2.0%. As of October 31, 2024, a total of 26.048 million tons of ore have been explored in the eastern district (proved, controlled, and inferred), with a copper metal content of 1,039,486 tons and an average grade of 3.99%. Among them, the proved ore reserves are 4.522 million tons, with a copper metal content of 151,247 tons and an average grade of 3.34%; the controlled ore reserves are 13.212 million tons, with a copper metal content of 586,705 tons and an average grade of 4.44%; the inferred ore reserves are 8.314 million tons, with a copper metal content of 301,533 tons and an average grade of 3.63%. The proportion of proved metal reserves is 14.55%, and the proportion of proved + controlled type metal reserves is 70.99%. According to the feasibility study, the maximum annual mining and selection capacity of the eastern district is planned to be 3.5 million tons. The announcement stated that the development and construction of the Lonshi copper mine Eastern District will help unlock the regional resource potential as soon as possible, and can make full use of the existing production and living facilities in the Lonshi copper mine Western District to optimize asset allocation.