Wedoany.com Report, On March 16, Jizhong Energy Resources Co., Ltd. announced that its Baijian Iron Ore Mine project located in Shahe City, Hebei Province has obtained the "Real Property Ownership Certificate (Mining Permit)" and has submitted the "Mine Area Ecological Restoration Plan" to the Hebei Provincial Department of Natural Resources. Upon approval of the plan, the company will officially apply for the mining license, marking a critical step towards the project's production commencement.

The Baijian Iron Ore Mine is included in the national "Cornerstone Plan" and is a key iron ore project under the focus of the National Development and Reform Commission. According to the geological exploration report, the mine has proven magnetite resources of 104 million tons, with an average deposit grade of TFe 48.02% and mFe 44.15%. It is a rare large-scale, high-quality rich iron ore deposit in China, and the ore can be directly used for blast furnace smelting. The ore body also contains associated pyrite, gypsum, and resources such as metal cobalt.

The project's mining area covers 2.58 square kilometers and is located about 1 kilometer from the industrial site of Jizhong Energy's Zhangcun Mine. The main ore body is largely situated within the mining rights area of the Zhangcun Mine. Since acquiring the exploration rights in 2020, the project has completed preliminary work including geological exploration and feasibility studies. In 2019, the company signed an exploration rights transfer contract with the Hebei Provincial Department of Natural Resources and has paid the first installment of benefits amounting to 93,342,060 yuan.