Wedoany.com Report, On March 17, Sichuan Hongda Co., Ltd. disclosed on the investor interaction platform that the mining right application for the Duolong Copper Mine, in which it holds a stake, has been formally submitted to the Tibet Autonomous Region Department of Natural Resources for approval. Duolong Mining is making every effort to advance the licensing process, striving to obtain the mining right certificate as soon as possible.

The Duolong Copper Mine is located in Gaize County, Ngari Prefecture, Tibet Autonomous Region, and is being developed by Tibet Hongda Duolong Mining Co., Ltd. This project is currently China's largest undeveloped copper mine, with proven copper metal resources of approximately 6.91 million tons and prospective reserves exceeding 20 million tons. It is designed to produce about 300,000 tons of copper annually with a service life of 20 years. Hongda Shares holds a 30% stake, while Shudao Group holds 40% through the former Hongda Group.

The company stated that Duolong Mining and its shareholders maintain efficient communication with the autonomous region and local competent authorities at all levels, and are progressing normally with various licensing procedures. According to Tibet's "One Pen" approval system for mining rights, the mining right application must be reviewed by the Department of Natural Resources before being submitted to the autonomous region government for final approval. Previously, the project has passed the approval processes at both the Gaize County and Ngari Prefecture levels, and has completed the review and filing of three key prerequisite documents: the "Exploration Report," the "Development and Utilization Plan," and the "Mine Geological Environment and Land Reclamation Plan."