SMM Lead Market Midday Update: Limited Secondary Refined Lead Circulation Drives Sparse Quotes and Steady Transactions

On September 2, Shengda Resources announced that its wholly owned subsidiary, Chifeng Jindu Mining Co., Ltd., had completed the consolidation of the mining rights for the Shidi Silver-Lead-Zinc Mine and the exploration rights for the Shidi Peripheral Lead-Zinc Polymetallic Mine. Jindu Mining has received the Real Estate Ownership Certificate (Mining Right) and Mining License issued by the Chifeng Municipal Natural Resources Bureau. Following the consolidation, the mining area increased from 4.4750 sq km to 5.2397 sq km. The change is not expected to have a material impact on the company's operating results in the short term, but is expected to increase mineable resources, extend the mine's service life and provide resource support for the company's long-term development.