[Nanjing Iron & Steel Co., Ltd. Secures Exploration Rights to Fanqiao Iron Mine for 920 Million Yuan!] On May 12, 2024, Anhui Jin'an Mining Co., Ltd., a wholly-owned subsidiary of Nanjing Iron & Steel Co., Ltd., successfully bid for the exploration rights to the Fanqiao Iron Mine in Huoqiu County, Anhui Province, at a price of 920 million yuan. The exploration rights period spans from April 3, 2024, to February 24, 2026. The mining area covers 4.7334 square kilometers and is adjacent to Jin'an Mining's existing Caolou mining area. The ore body is distributed in a horseshoe shape, with magnetite as the main ore type, similar to the Caolou mine. By securing the exploration rights to the Fanqiao Iron Mine through its subsidiary, Nanjing Iron & Steel Co., Ltd. aims to expand its resource reserves, optimize its regional layout, and reduce costs and improve efficiency through synergies with existing mining areas. The project is expected to produce over 1 million mt of high-grade iron ore concentrates annually during the 30-year production period, strengthening the company's competitiveness in the iron ore resources sector.