CHINAVTM MINING (00893) subsidiary enters into two 2026 engineering contracts.

CHINAVTM MINING (00893) announces that on September 24, 2026, Aba Mining (an indirect wholly-owned subsidiary of the Company) entered into the 2026 Engineering Contracts with the contractor in respect of the Phase II underground backfilling and surface backfilling facilities for the Maoling-Yanglongshan Iron Mine, with total contract amounts of RMB3 million and RMB1.95 million respectively. The subject matter of the 2026 First Engineering Contract is that the contractor shall be responsible for the Phase II civil and steel structure works for the tailings backfilling at the Maoling-Yanglongshan Iron Mine (i.e. the process of backfilling underground mined-out areas with washed tailings or mining waste to provide structural stability and reduce environmental risks) (Underground Backfilling). The scope of work includes the design, fabrication and construction of steel structures and civil engineering works for ancillary facilities related to the Underground Backfilling (Phase II Underground Backfilling). For the avoidance of doubt, the 2026 First Engineering Contract is an extension of the 2025 First Engineering Contract. The subject matter of the 2026 Second Engineering Contract is that the contractor shall be responsible for the civil and site works (including relevant geotechnical engineering interfaces) for the surface infrastructure and ancillary facilities of the underground backfilling system at the Maoling-Yanglongshan Iron Mine (Surface Backfilling Facilities). Aba Mining had previously also entered into the 2025 Engineering Contracts with the contractor in respect of the Phase I underground backfilling and magnetic separation facilities upgrade works. In view of ongoing environmental compliance obligations and China's domestic green mine framework in recent years, the Underground Backfilling and Surface Backfilling Facilities form part of the Group's operational upgrade to further reduce surface environmental impact. As part of Aba Mining's waste management, these backfilling infrastructure and facilities can redirect substantial quantities of tailings for underground reuse, thereby reducing the scale and risk of surface tailings ponds, while also stabilizing underground rock structures, protecting surface infrastructure and safeguarding worker safety. The magnetic separation facilities upgrade works are intended to address the ongoing challenges facing China's steel supply chain. They support the Group's gradual transformation of its downstream washing and processing capacity from producing existing high-grade iron concentrate to producing ultra-high-grade iron concentrate (i.e. TFe content greater than 70%). This phased upgrade is consistent with the Group's strategy as it continues to enhance and enrich its product portfolio in response to the current operating environment of the steel industry.