On October 21, the contract for Phase II capital construction, development of inclined shaft and ramp, and mining production (Section I) at Shuangjianzishan Silver & Lead Mine was signed between JCHX and Chifeng Yubang Mining Company (hereafter as “Yubang Mining” ) in Beijing.
Registered in Balinzuoqi,Inner Mongolia, Yubang Mining owns Shuangjianzishan Silver & Lead Mine, the seventh largest silver deposit in the world and the largest one in China. With extensive silver-lead-zinc mineralization, it is gifted with great potential in reserve growth.
Tendering process was started in September, 2020. After receiving the enquiry document, all related departments worked together to complete the tender document with efficiency and high quality. As a result, JCHX outshined other bidders with a scientific, feasible and optimum technical proposal, reliable service and competitive price, and won the bid finally.
The tentative contract value is RMB 1268 million (tax included) in total, with RMB 417.25 million (incl. tax ) for capital construction, and 850.75 million (incl. tax ) for mining production. The final payment shall be subject to the measured quantities of accepted works.
This contract brings more vitality to JCHX for its sustainable development in domestic market. As the second block caving mine where JCHX works (Pulang Copper Mine being the first one), it’s execution will benefit from our past experience and we can make full use of existing advanced equipment. Besides, it further enhances JCHX’s market position in terms of utilizing block caving technology.
