Huaibei Green Gold Co. (ASX: 02450) has announced that the group is planning a business collaboration for a marble mining project located in Henan Province, China. The target mine is the Beiyangzhuang Marble Mine in Tongbai County, Henan, situated approximately 10 kilometers northwest of Tongbai's urban area and under the jurisdiction of Huaiyuan Town and Chengjiao Township.
The mining rights for the target mine were secured by Henan Yuxin Mining Technology Co., Ltd. in March 2025 with a starting bid of RMB 133.32 million. The mining license is valid for 24.1 years, from March 2025 to April 2049. The mining area covers 2.1823 square kilometers with an annual production capacity of 1.2 million tonnes. The mine will utilize open-pit mining methods, with an extraction elevation ranging from 475.79 meters to 385 meters.
According to publicly disclosed mineral resource exploration reports, the designed and utilizable marble resource reserves for the target mine are 27.183 million tonnes, with a recoverable reserve of 25.824 million tonnes. Additionally, an estimated 14.5763 million tonnes of construction stone materials are available for comprehensive utilization. The group is currently engaged in preliminary discussions with Henan Yuxin Mining regarding the potential collaboration.
The board believes the target mine, located in Tongbai County, Nanyang City, Henan Province, could generate synergies with the group's existing operations. The mine boasts abundant resource reserves and a diversified product range, including colored marble sand, blocks, powder, and construction stone materials. The site benefits from convenient transportation, being 4 kilometers north of Dahe Town, 7 kilometers south of Huaiyuan Town, and 10 kilometers southeast of Tongbai County. The surrounding environment is straightforward, contributing to lower mining costs.
The group anticipates participating in the project through diversified cooperation models, which could provide a new source of business growth. As of the date of this announcement, the group and the mining rights holder, Henan Yuxin Mining, have entered into a letter of intent regarding the potential collaboration. This potential cooperation is still in its preliminary stages, and no specific implementation measures have been formulated at this time.
Comments