Qingdao Dongfang Tower Co., Ltd. announced that the target company, 72% of whose equity its wholly-owned subsidiary Sichuan Huiyuanda Potash Fertilizer Co., Ltd. plans to acquire, namely Kunming Diyin Mining Co., Ltd., has obtained the Shugu Phosphate Mine Mining License and the Real Estate Title Certificate for Mining Rights issued by the Yunnan Provincial Department of Natural Resources. The mining area covers 5.5253 square kilometers, with mining depths from 3,150 meters to 2,500 meters, and a validity period from August 18, 2026 to August 17, 2041, totaling 15 years. The company stated that obtaining the mining rights certificate is of positive significance for completing the equity acquisition, helps improve the integrated potash and phosphate industry chain layout, and aligns with the company's overall strategic development plan. It also cautioned that actual construction of the Shugu Phosphate Mine still requires completion of multiple approval procedures including project approval, environmental impact assessment, water conservation, and safety facility design, and the completion time remains uncertain. In addition, the equity transfer registration for the 72% stake in Kunming Diyin has not yet been completed, and the company has not yet obtained control over it.
Qingdao East Steel Tower Stock Co LtdWholly-owned subsidiary plans to acquire 72% of Kunming Diyin, whose Shugu phosphate mine license is secured, advancing the equity acquisition and integrated potash-phosphate layout.
Kunming Diyin obtained the Shugu Phosphate Mine Mining License and mining-rights title certificate valid 15 years from Yunnan authorities.
