Huaibei Mining: The subsidiary intends to invest 9.667 billion yuan to build a Tao Hulu Coal Mine Project

On the evening of July 19, 2022, the A -share company Huaibei Mining (600985.SH) announced that in order to increase the company's coal resource reserve and strengthen the company's main development stamina, the company intends to be the following subsidiaries of the mining industry as the project. Investment in the construction of Tao Hutu Coal Mine Project.

Tao Luotu Coal Mine is high -quality power coal, with a mine production capacity of 8 million tons/year, and resource reserves of 1.429 billion tons (based on the scope of the mining area of ​​the Natural Resources Department of the Inner Mongolia Autonomous Region on September 8, 2021). The project is expected to invest in total investment. It was 9.667 billion yuan, of which the project construction investment was 8.575 billion yuan, and the cost of mining rights was 1.092 billion yuan. The project construction cycle is expected to be 52 months.

Taking the market coal price in 2018-2021 in the Ordos area, it is estimated that the comprehensive coal price is about 355 yuan/ton (excluding tax price); it is expected that the annual sales revenue after the project will be about 2.84 billion yuan, and the total profit will be about 1.04 billion yuan Yuan.

Huaibei Mining said that Tao Luotu's coal mine resources are rich in resources, excellent coal quality, good development conditions, and have the conditions to build a safe, efficient and intelligent large -scale modern mine. The main development of the coal industry is in line with the company's main coal main business sustainable development strategy. After the project is completed and put into production, it will create a new profit growth point for the company, which is in line with the interests of the company and all shareholders.

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