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[SMM News] Luo Ping Zinc Power: re-production of Yuhe lead-Zinc Mine in Hongtai Mining Industry
Jun 13,2019 20:32CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6 13 June news: according to the Securities News Network June 13 news, Luoping Zinc Power (002114) June 13 evening announcement, the wholly-owned subsidiary Hongtai Mining received the Puding County Emergency Management Bureau issued the resumption of production approval, Hongtai Mining Yuhe lead-Zinc Mine will resume production from the date of obtaining the resumption of production approval. At present, all work in the mine is being carried out in an orderly manner.

It is reported that Luo Ping Zinc Power on August 6, 2018 in the company's designated media issued "on the subsidiary Puding County Hongtai Mining Yuhe lead-Zinc Mine mining certificate expired stop production notice." During the suspension of production, the company's wholly owned Zigong Si Hongtai Mining Co., Ltd. ("Hongtai Mining") actively processed mining warrants in accordance with the relevant requirements of Guizhou Provincial Department of Land and Resources (now renamed "Guizhou Provincial Department of Natural Resources"), and obtained a new mining license issued by Guizhou Provincial Department of Natural Resources on February 1, 2019.

Reasons for stopping production: Hongtai Mining belongs to Puding County, Guizhou Province. According to the new regulations of the Department of Land and Resources of Guizhou Province in 2017: new establishment, extension and change of mining rights, a plan for the green development and utilization of mineral resources should be worked out (the original plan for the development and utilization of mineral resources, the scheme for the reclamation of mine land, the plan for the protection and restoration of mine geological environment, and the plan for green development and utilization of mineral resources should be integrated into one plan, that is, the plan for green development and utilization of mineral resources. Abbreviation: "three-in-one plan"), and the green development and utilization plan must be worked out according to the planning of ecological red line. As the planning plan for the ecological red line in Guizhou Province was only approved and released by the State Council in early July 2018, due to policies and related new business requirements, Hongtai Mining did not complete the preparation and continuation of the three-in-one mining rights license on time, resulting in the suspension of mining operations in Yuhe lead-Zinc Mine.

The impact of the suspension on the company: according to the company's "subsidiary Puding County Hongtai Mining Yuhe lead and Zinc Mine Mining Certificate expired stop production" announcement shows that Hongtai Mining Yuhe lead and Zinc Mine according to the planned annual ore production capacity of 100000 tons, before the end of July through the planned implementation of safety standardization construction, did not arrange production. At present, from the license processing to promote the situation, will not affect the completion of Hongtai Mining production and business plan. Therefore, it is expected that Hongtai Mining Yuhe lead-Zinc Mine mining warrants expired stop production will not have a greater adverse impact on the company's business performance.

On June 13, 2019, Hongtai Mining received from the Emergency Management Bureau of Puding County "approval for the resumption of production in Yuhe lead-Zinc Mine of Puding Hongtai Mining Co., Ltd." (Pudong Emergency non-Coal Fu [2019] 06) document agreeing to the resumption of production in Yuhe lead-Zinc Mine. According to the requirements of the notice, Hongtai Mining Yuhe lead-Zinc Mine will resume production from the date of resumption of production approval. At present, the work of the mine is being carried out in an orderly manner, at the same time, the company will urge the subsidiaries to strictly implement the relevant laws, regulations and standards of production safety to carry out production.

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