Huaibei GreenGold Industry Investment Co., Ltd. (Huaibei GreenGold) announced that it has entered into a non-binding letter of intent with Henan Yuxin Mining Technology Co., Ltd. to explore cooperation on the Beiyangzhuang Marble Mine in Tongbai County, Henan Province.
The Target Mine, located roughly 10 km northwest of Tongbai’s urban area, was acquired by Yuxin Mining in March 2025 for RMB 133.32 million. Key resource and licence parameters include: • Mining concession: 24.1 years (Mar 2025–Apr 2049) covering 2.1823 sq km. • Designed mining capacity: 1.20 million tonnes per year via open-pit extraction (elevation 475.79 m to 385 m). • Reserves: 27.18 million tonnes of marble (designed for utilisation), 25.82 million tonnes of recoverable reserves, plus 14.58 million tonnes of construction stone for comprehensive utilisation.
Management highlighted potential synergies with Huaibei GreenGold’s existing operations, citing diversified products (coloured sand, blocks, powder, construction stone), proximity to towns and transport links (4 km from Dahe, 7 km from Huaiyuan, 10 km from Tongbai), and relatively low operating costs as key attractions. The company is considering “diversified cooperation models” to create new revenue streams.
The cooperation remains at an early stage: • Only a letter of intent has been signed; no binding agreements or detailed terms (method, scale, pricing) have been finalised. • Comprehensive due diligence is pending, and its outcome could affect the decision to proceed. • Both parties acknowledge potential negotiation uncertainties; material differences could derail the project.
Yuxin Mining and its ultimate beneficial owners are independent third parties to Huaibei GreenGold under Hong Kong Listing Rules. The board pledged to make further disclosures should definitive agreements be reached.
Shareholders and investors are urged to exercise caution, as the proposed collaboration may or may not materialise.
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