Baotailong New Materials (601011.SH): A subsidiary, Donghui coal mine project received approval with a total investment of 2.816 billion RMB.

Baotailong New Materials (601011.SH) announced that its subsidiary, Shuangyashan Longmei Tiantai Coal Chemical Co., Ltd. (referred to as "Longmei Tiantai Company"), recently received the approval from the National Energy Administration for the Donghui Coal Mine Project in the Xiqu district of Shuangyashan Mining Area, Heilongjiang Province (Approval No. Guonengfa Coal [2024] 14): to stabilize the production scale of the large coal base in the east of Inner Mongolia, ensure a stable coal supply, and optimize the coal industry structure, it is approved to construct the Donghui Coal Mine Project in the Xiqu district of Shuangyashan Mining Area, Heilongjiang Province (Project Code: 2311-000000-60-01-678895). The project is located in Jixian County, Shuangyashan City, Heilongjiang Province. The construction scale of the Donghui Coal Mine Project is 1.8 million tons per year, with the construction of a coal washing plant of the same scale. The total investment of the project is 28.16 billion yuan (excluding mining rights fees), with a capital of 8.7 billion yuan, accounting for 30.9% of the total investment, to be funded by the project unit with its own funds; the remaining 19.46 billion yuan will be financed through bank loans.