Reproduction of Jinpo lead-Zinc Mine in Luoping Zinc Power Banner

SMM6, 28 March: Yunnan Luoping Zinc Power Co., Ltd. issued a notice saying that recently the company's wholly owned subsidiary Puding County Derong Mining Co., Ltd. Jinpo lead-Zinc Mine has obtained a safety production license issued by the Office of Emergency Management of Guizhou Province, certification and resumption of production. The details are as follows:

No. (Guizhou) FM [2019] 0047

Unit name: Puding Delong Mining Co., Ltd. Jinpo lead-Zinc Mine

Main person in charge: Zhou Weijun unit

Add: Ji Chang Po Na Yong Cun, Puding County, Guizhou Province

Economic type: limited liability company

Permitted scope: underground mining of lead and zinc mines (700000 tons / year)

Validity period: June 24, 2019 to June 23, 2022

June 28, 2019, Derong Mining received Puding County Emergency Management Bureau issued by the production safety law enforcement document "rectification Review opinion" (General Emergency Review [2019] non-coal-20) and "consent to Puding Delong Mining Co., Ltd. Jinpo lead and Zinc Mine supply of explosive products" (Pudong Emergency non-Coal letter [2019] 33). As the Derong Mining Jinpo lead-Zinc Mine has obtained a new safety license, and the license is complete, the Puding County Emergency Management Bureau applied to the Puding County Public Security Bureau to supply explosive products to the Derong Mining Jinpo lead-Zinc Mine in accordance with the regulations. At this point, Derong Mining Jinpo lead-Zinc Mine has the conditions to resume production, and will be obtained from the "rectification and reform review opinion" from the date of resumption of production.

The 2018 annual report of Derong Mining Jinpo lead-Zinc Mine (audited) and its financial statements from January to May 2019 (unaudited) show that its output in 2018 was 103928.8 tons, income was 16513087.76 yuan, and net profit was 1672446.99 yuan; from January to May 2019, production was 36207.23 tons, income was 6244101.73 yuan, and net profit was 713031.98 yuan. The shutdown time is 10 natural days, the shutdown time is relatively short, combined with its production and operation, the company judged that the shutdown will not have a significant impact on the company's profits.

The company will urge subsidiaries to strictly implement laws, regulations and standards related to production safety in order to carry out production.