British Virgin Islands-registered and Hong Kong-based company China Natural Resources Inc. released the results of an Independent Technical Report. The ITR relates to the coal resources and reserves contained at the coal mines located in Guizhou Province, China, at which the BVI company is the holder of mining rights. It is prepared by Behre Dolbear Asia, Inc., which is an affiliate of Behre Dolbear Group Inc., a mineral industry advisory and consulting group represented internationally in 11 cities, and specializing in performing mineral industry studies for mining companies, financial institutions and natural resource firms.
The Chairman and CEO of China Natural Resources, Mr. Feilie Li, in his comments said the following: “The results of the independent technical report prepared by Behre Dolbear are encouraging. The Company is committed to providing useful, transparent and internationally comparable coal reserve information to our shareholders and the investment community. The progress of the mine construction and/or upgraded mine development projects of the coal mines is satisfactory. Both Baiping and Gouchang coal mines are currently operating while Linjiaao coal mine is in trial run. The mine construction of Yongsheng mine, which has been granted a mining right permit to mine 600,000 tonnes per annum in its first phase of development, is expected to be completed next year and its trial run will be commenced thereafter. We remain positive about the prospects for the coal mining industry in the PRC and we will continue to pursue growth through acquisition and consolidation of small to medium sized coal mines.”