Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) obtained approval from the Inner Mongolia Development and Reform Commission for its silver mine project in the Butun Wula mining area, according to a Shenzhen Stock Exchange filing on Monday.
The project is authorized for a production scale of 2.97 million tons per year. It will be carried out through a managed company, Xiwuzhumuqin Banner Butun Yingen Mining Co.
Construction of the mine includes mining engineering, ore beneficiation engineering, tailings facilities, and public auxiliary works.
Shares of the company were down nearly 3% in recent trade.
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