Baotailong announced that its Baotailong No. 2 Mine has received a resumption notice from the People's Government of Xinxing District, Qitaihe City. After inspection by the Xinxing District local coal mine resumption acceptance leading group, it was determined to meet resumption conditions and approved to resume production, officially becoming a mine. The mine has a designed production capacity of 300,000 tonnes per year. Baotailong stated that becoming a formal mine will further consolidate the company's raw coal self-supply foundation, effectively increase the proportion of self-supplied raw coal, reduce dependence on external raw coal procurement, help optimise the raw material procurement structure and control raw material costs, while the newly added mine capacity will expand the overall production scale of the company's coal segment and enhance the stability of the industrial chain. As of now, the company's 2022 non-public offering raised funds investment projects Baotailong No. 1 Mine, No. 2 Mine and No. 3 Mine have all been completed and officially put into production.
Baotailong New Materials Co LtdBaotailong No. 2 Mine approved as a formal mine with 300,000 t/yr capacity, boosting self-supplied raw coal and cutting external procurement dependence.
