Recently, good news came from the Department of Natural Resources of Liaoning Province: the open-pit expansion project of Ansteel Mining Anqian Company and the deep expansion project of Gongchangling underground mine have passed the approval of mining rights agreement transfer, laying a solid foundation for obtaining the expansion mining rights license in the next step and further enhancing China's ability to ensure the supply of iron ore resources.

According to relevant policy requirements, the open-pit expansion project of Anqian Company and the deep expansion project of Gongchangling underground mine are historical legacy issues and have not been included in the scope of expanding mining rights. With the arrival of the mining period, Anqian Company will shift to expensive underground mining, while the Gongchangling underground mine will not be able to carry out deep boundary expansion mining. Both companies will face the problem of continuous resource shortage. In order to revitalize the old mining area, continue to release production capacity, promote local economic development while maintaining national industrial security, and assist Liaoning's comprehensive revitalization through the three-year action plan, Ansteel Mining Company actively communicated with the Liaoning Provincial Department of Natural Resources and compiled a special report based on the actual situation of the enterprise. In September 2024, the Department of Natural Resources of Liaoning Province accurately matched the needs of enterprises and made a breakthrough by allowing eligible old mines to expand their mining areas through mining rights agreements, optimize mining methods, and solve the problem of expanding the boundaries of old mines. The Department of Natural Resources of Liaoning Province has also established a "special team docking and full process tracking" working mechanism with Ansteel Mining Company, fully accelerating the project approval process through the "capacity acceptance and parallel approval" working mode. Ansteel Mining Company has closely communicated and coordinated with relevant authorities in Liaoning Province, Anshan City, and Liaoyang City, closely monitored key links and time nodes, and accelerated the preparation and review of more than 10 requirements. With the joint efforts of multiple parties, two projects have been approved for the transfer of mining rights agreements. Among them, the open-pit expansion project of Anqian Company has shortened the approval time by more than 6 months.

The open-pit expansion project of Anqian Company and the deep expansion project of Gongchangling underground mine shoulder the important responsibility of ensuring the independent and controllable iron ore resources. After the project is implemented, the recoverable reserves of Ansteel Mining Company's iron ore resources are expected to increase by 530 million tons, and the production capacity is expected to increase by 16.5 million tons per year. At the same time, the successful approval of two projects will provide resource continuity solutions for more than 40 mines in China with remaining service life less than 5 years, effectively safeguarding national industrial security; After the two projects are put into operation, they will also drive local economic development, increase tax revenue, and provide employment opportunities.