CHINAVTM MINING's subsidiary has entered into a construction contract worth HKD 34 million for mine upgrade and expansion
CHINAVTM MINING announced that its wholly-owned subsidiary Aba Mining has signed a construction contract worth 34 million yuan with Zhejiang Zhongxiang Construction Group, which is scheduled to be completed by September 30, 2025. The contract aims to upgrade and expand the mining site, and is expected to increase the annual production capacity of the Maoling - Yanglongshan Iron Mine by 30% to 40%, enhance economies of scale, and reduce production costs
According to the announcement from CHINAVTM MINING (00893), on September 30, 2025, the company's indirect wholly-owned subsidiary Aba Mining entered into a construction contract with the contractor Zhejiang Zhongxiang Construction Group Co., Ltd. Under the terms and conditions of the construction contract, the contractor is required to provide services for the construction and engineering operations related to the upgrade and expansion of the mine, with a total contract amount of RMB 34 million.
The announcement stated that the construction contract was established for the upgrade and expansion of the mine, and its strategic plan aims to gradually increase the annual production capacity of iron concentrate at the Maoling-Yanglongshan Iron Mine by approximately 30% to 40% after optimizing and upgrading capacity on a comprehensive commercial scale. Unless unforeseen circumstances arise, this will further enhance economies of scale and reduce unit production costs
