Xinjiang Baodi Mining is Officially Listed

On March 10, Xinjiang Baodi Mining Co., Ltd. (601121.SH) was officially listed on the main board of the Shanghai Stock Exchange. Baodi Mining's iron ore resources are located in Xinjiang. The company's two mines, which have obtained mining licenses, have resource reserves of 41.04 million mt and are expected to be mineable for more than 20 years.  In the near term, with the help of IPO-funded projects, the mining capacity of Baodi Mining's Songhu Iron Ore Mine and dressing plant will be increased to 1.5 million mt per year (the original production capacity was 1 million mt per year). The increase in the scale of mining and dressing will effectively reduce production costs and lays a solid foundation for Baodi Mining to further enhance its profitability.