The net profit of Chifeng gold increases by 80%. Rare earths are found in overseas mines.

Chifeng Gold disclosed on the evening of July 30 that the company's operating income was 1.673 billion yuan, down 36.79% from the same period last year, and its net profit was 401 million yuan, an increase of 80.57% over the same period last year. During the reporting period, the company produced 3902.11 kg of mineral gold, an increase of 225.62% over the same period last year.

In addition, Chifeng Gold disclosed that Sepon Copper and Gold Mine, under the jurisdiction of the company's overseas subsidiary Vientiane Mining, is the largest non-ferrous metal mine in Laos, with one mining right and one exploration right, 3.3 million ounces of gold resources conforming to JORC regulations at the end of 2020, and exclusive rights for exploration and exploitation of mineral resources within a total area of 1247 square kilometers, including Sepon mining area, with broad prospecting prospects. During the reporting period, the company continued to increase its exploration investment, and new prospecting discoveries were made in the deep, northern and eastern parts of the existing mining area, and abnormal enrichment of rare earth elements was found in the soil samples in the northern part of the mining area. a favorable prospecting zone for quartz vein gold deposits has been found in the eastern region.

Vientiane Mining Exploration Department carried out soil geochemical survey in Senoy block in the north of Sepon mining area, and a total of 975 samples were sampled. The sample was tested by (ALS), a professional testing institution, and the test report was issued. It was found that the rare earth elements were abnormally enriched, and the heavy rare earth elements were more enriched than light rare earth elements. The rare earth content of most soil samples and original rock outcrop samples reached the industrial grade (Chinese standard). Several quartz vein type easy-dressing gold belts have also been found in the eastern region, which has great potential and exciting, which provides a resource basis for building Saipan Mine into a world-class single gold mine. According to the results of geophysical and geochemical exploration and geological mapping in Senoy block, Vientiane Mining has formulated a work plan for newly discovered rare earth deposits and quartz vein type easy-dressing gold deposits in the east, with an estimated investment of US $5 million to complete exploration in this area. At the same time, the preliminary work of the development will be carried out according to the exploration results.