Shenghe Resources: short-term limitation of Kvanefjeld Mine Project

Q: recently, Greenland passed legislation banning uranium mining and suspending rare earth projects. Under the circumstances that the Kvanefjeld mine project is limited in the short term, how can your company tamp the current rare earth resources of 40-50000 tons per year in REO/? In February 2021, your company reached a memorandum of understanding with RareX to establish a joint venture rare earth trading company. how is it going? Have you purchased rare earth raw materials from the trading company? Has your company made any new cooperation progress in the development of the Tomotor rare earth mine in Russia?

Shenghe Resources: we will closely monitor the progress of the Kovane Bay project in Greenland and will continue to adhere to the strategy of diversified raw material supply. The company shall perform its information disclosure obligations in strict accordance with the relevant provisions of the Stock listing rules of the Shanghai Stock Exchange. If the relevant matters meet the disclosure standards, the company will issue an announcement.