Xinjiang Baodi Mining (601121.SH) subsidiary prepares for temporary production halt in mining industry.
Baodi Mining (601121.SH) announced that Hejing County Beizhan Mining Co., Ltd. (referred to as "Beizhan Mining") is a holding subsidiary of the company, with the company holding a 51% stake in Beizhan Mining. Its main business is the mining and processing sales of iron ore. Currently, Beizhan Mining is actively advancing the safety facility design review for the 10 million tons/year mining project as mandated by the National Mine Safety Administration. At the same time, Beizhan Mining's inventory of processed ore has been completed. After careful consideration, the company has decided to temporarily suspend production at Beizhan Mining. The company will make every effort to seek support from relevant departments, strengthen coordination, and aim to pass the review and resume production in a timely manner. At that time, the company will issue another announcement.
Xinjiang Baodi Mining (601121.SH) announced that Hejing County Beizhan Mining Co., Ltd. (referred to as "Beizhan Mining") is a controlling subsidiary of the company, in which the company holds a 51% equity stake. Its main business is the mining, processing, and sales of iron ore. Currently, Beizhan Mining is actively advancing the design review of safety facilities for the 10 million tons/year mining and selection project as required by the National Mine Safety Supervision Bureau. At the same time, the stockpiled ore at Beizhan Mining has been processed, and after careful consideration, the company has decided to temporarily suspend production at Beizhan Mining. The company will make every effort to seek support from relevant departments, strengthen work coordination, pass the review as soon as possible, and resume production in a timely manner, for which the company will make a separate announcement.
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