According to the announcement from Zhitong Finance APP, Western Mining (601168.SH) has released a notice stating that on June 23, 2025, its holding subsidiary Tibet Yulong Copper Co., Ltd. (referred to as "Yulong Copper") received the "Approval for the Approval of the Yulong Copper Mine Phase III Project by the Tibet Autonomous Region Development and Reform Commission" (Tibet Development and Reform Industry [2025] No. 362). This approval is in line with the State Council's work deployment to ensure the security of strategic mineral resources and to promote the transformation of resource advantages into economic development advantages. The approval allows for the Yulong Copper Mine Phase III Project, increasing the copper mine production capacity from 19.89 million tons/year to 30 million tons/year.

As the company's main copper mine, Yulong Copper Mine's high-grade ore resources and advanced equipment level make it the largest source of revenue and profit for the company. By the end of 2024, the ore resource amount of Yulong Copper Mine is 830 million tons, with an average copper grade of 0.6%, and it is expected to produce 159,000 tons of copper metal in 2024. With the completion and production of the Yulong Copper Mine Phase III Project, the production capacity is expected to reach 30 million tons/year, with copper metal output reaching 180,000 to 200,000 tons/year. The overall copper production scale of the company will further increase, continuously enhancing the company's profitability, consolidating and strengthening its market competitiveness in the non-ferrous metal mining sector, boosting investor confidence, and laying a solid foundation for the company's long-term development