Chifeng, China — July 10, 2025 - NFC announced that its subsidiary, Chifeng Baiyinnuoer Mining, has successfully obtained approval for a new mining license with an annual capacity of 1.65 million tons, marking a major breakthrough in the company’s strategic initiative to expand reserves and boost production.

The upgraded license represents a significant step forward in its development, with multiple key parameters enhanced. The licensed mining area has been expanded from 3.8712 km² to 4.0256 km², while the approved mining depth has been extended from 1010–550 meters to 1057–181 meters. The mining scale has increased from 0.99 million tons per year to 1.65 million tons per year, adding nearly 7 million tons of ore resources.

This achievement maximizes both the integrity of Baiyinnuoer Mining’s mining rights and the scale of its available resources, providing a strong foundation for sustainable, high-quality growth.