en.Wedoany.com Reported - On March 23, 2026, Qinghai Nonferrous Mining Development Co., Ltd. (hereinafter referred to as "Qinghai Nonferrous"), a subsidiary controlled by China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. (hereinafter referred to as "NFC"), successfully acquired the exploration right for the polymetallic mine in the Hari Zha area, Dulan County, Qinghai Province, through an auction for 214 million yuan. The formal transaction contract was signed on March 26, marking a significant breakthrough in NFC's resource reserve expansion at the beginning of the "15th Five-Year Plan" period. 
The exploration right was listed for transfer by Qinghai State-owned Mining Investment Co., Ltd. through the Chongqing Public Resources Trading Center. It covers an area of 12.6279 square kilometers, with a validity period from November 26, 2025, to November 25, 2030, and a planned transfer term of 5 years, which can be legally extended. The controlled and inferred ore reserves within the mining area are approximately 45.4154 million tons, with a metal content of about 446,000 tons. The primary exploration target is lead ore, co-existing and associated with valuable metals such as zinc, silver, and copper. Specifically, the co-existing lead ore metal content is 251,400 tons with an average grade of 0.88%; the co-existing zinc ore metal content is 49,000 tons with an average grade of 1.04%; the combined metal content of co-existing and associated silver ore is 1,294.61 tons; and the combined metal content of co-existing and associated copper ore is 87,100 tons.
NFC's board of directors reviewed and approved the relevant proposal on March 13, 2026, authorizing a maximum bidding price of 230 million yuan. The final transaction price of 214 million yuan falls within this authorized range, with funding sourced from the company's own or self-raised funds. The Qinghai region is one of the two core areas for NFC's domestic resource development base (the other being Inner Mongolia). Acquiring this exploration right represents a significant achievement in the company's active promotion of project cooperation and exploration in recent years.
Currently, NFC is actively implementing its dual-driven strategy of "Resources + Engineering." Its resource business primarily focuses on lead-zinc projects, with operating and under-construction mines mainly including the Aobao Zinc Mine, Baiyinnuoer Lead-Zinc Mine, and Darui Lead-Zinc Mine. Since the second half of 2025, the company has accelerated its resource expansion efforts. This includes signing an equity acquisition agreement for the Raura project in Peru to establish a South American resource base, as well as successfully bidding for the Hari Zha exploration right in Qinghai this time. These moves form a three-dimensional resource strategy of "increasing domestic reserves, expanding overseas, and upgrading existing assets."
Moving forward, NFC will guide the enterprise to expedite follow-up work such as the transfer of mining rights, exploration design, and construction preparation, aiming to obtain the exploration permit as soon as possible. Please note that the actual resource volume, grade, and other details may deviate from the exploration results, carrying a certain degree of uncertainty.
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