Our company is a fluorite exploration company and also the first Chinese fluorite conceptual stock listed in US. The scope of its business covers exploration, mining, beneficiation and technical consultation. Its main business is fluorite mining, with geological prospecting and technical consultation as supplementary services.
The main objective of China Zhong is to become a leading fluorite company in China and maximize the benefit for shareholders. We will take great efforts to achieve the goal by first-class management, creative operational strategy and perfect implementation.
We are the fourth mining area of Northwest Minggang Fluorite (Group) Headquarters, Xingji Town, Xinyang City. It belongs to the state-owned mine. Procedures such as license, mining certificate, reserve report and passing of EIA are complete.
During the period of mining by private miners, the mine refused to explore for the reasons of avoiding mineral tax, fearing that the proved reserves would be too large and nationalized. However, according to the national geological survey report during the Cultural Revolution period, the mining area has huge reserves and high grade, which is of great mining value.
At present, there are two available mines in the mine, with an annual mining volume of about 30,000 tons. Among them, high-grade ores are sold directly at the present value of 2,000 yuan/ton, low-grade ores are purified at the present market price of 3,700 yuan/ton, and after-tax profits of about 40 million yuan.
There are many private mining areas near Xinyang. It is easy to acquire ores. The annual profit of ore processing by concentrators can reach about 20 million yuan.
We are planning that reserves exploration and investment in mine equipment, aiming to achieve its goal in two years: annual net profit exceeding 100 million yuan.