From July 16 to 21, Wang Jianhua, Chairman of Chifeng Gold, went to Sepon Mine of LXML, a holding subsidiary in Laos, for on-site investigation, and called on the leaders of the Lao Government, relevant departments and enterprises.

Wang Jianhua first conducted a two-day compact and efficient investigation at Sepon Mine. He listened to the report of LXML management team on the production and operation in the first half of the year and the business plan in the second half of the year, which involved cost reduction, improvement and enhancement of mineral processing system, important projects under construction, maintenance of fixed assets, open-pit mining operation, underground mining projects, resource exploration, construction of mining operation control center and global procurement service platform, etc., visited the mineral processing system and digital mining operation control center of the gold mine project, and conducted the field inspection of the Namkok River Diversion Project, the open pits in Discovery, Nalou and other mining areas and the deep underground mining ramp project of Discovery.

After the site inspection, Chairman Wang Jianhua held a symposium with the management of LXML, summarized and exchanged the site inspection results and put forward requirements for the next stage of work. Wang Jianhua pointed out that this time he went to the mining area and saw eye-catching new Sepon, and that LXML achieved all-round improvement.

First, improved ability and efficiency. The ability of LXML management to control and manage large mines has been greatly improved, and the breakthrough progress of mineral processing recovery rate of the gold mine project is exciting. The mining capacity is more information-based to keep pace with the times, which will have a far-reaching impact on Sepon Mine. The prospecting ability is corresponding to a medium prospecting company. Fixed assets maintenance ability, team spirit, and the ability to grasp the substantive problems are improved. The ability, level and quality of roadway expansion for underground mining are improved. Resource integration and expansion ability are improved. These improvements are created by the team with efforts, wisdom and positive attitude, which is gratifying and encouraging.

Second, improved collaboration and confidence. The ability of coordination, communication and mutual support is especially important for the management of large-scale and comprehensive mines. The improvement of mineral processing recovery rate of the gold mine project is the result of coordination in various aspects, including the coordination within the team and the coordination of external forces, and the experience needs to be summarized. Collaborative ability makes improved confidence a powerful ability to support the development of Sepon. All departments are full of confidence in solving the problems to be solved, and the internal development confidence is significantly improved. To believe in the power of “belief”, confidence comes from believing in the assistance of others, which is a new atmosphere presented by Sepon Mine and corporate culture to be fully promoted within the company.

Third, improved development vision and action. The development vision of Sepon Mine is quite different from the original one, which is demonstrated by not only the stable operation of current gold and copper projects, but also the great potential of new resources and types of gold, copper and rare earth, and the ability, confidence and opportunity to integrate resources beyond Sepon mining area to the outside. Sepon team has clear ideas and action plans for solving current and long-term development problems, which lays the foundation for developing Sepon Mine into a world-class mine, and also brings a broader space for the overall development of Chifeng Gold.

Wang Jianhua put forward specific work requirements for the next stage of LXML. First, it is required to continue to improve and promote the operation stability and production efficiency of gold mine processing system, minimize the disturbance of technical transformation to production, and further improve the mineral processing recovery rate and stabilize it at a higher level. Second, prospecting work is still the top priority. It is a short-term behavior to rely on high-grade ore to make breakthrough in the output. It is necessary to grasp the current opportunity, further expand the breadth and depth of exploration, and support long-term development by exploring and obtaining a larger amount of gold and copper resources. Third, it is required to further strengthen team building and improve management ability, and be ready to provide management support for new projects at any time. Fourth, it is required to implement the equity incentive plan, open the communication channel among owners, operators and workers, and realize symbiosis and common growth.

During his inspection tour in Laos, Wang Jianhua called on Xaysomphone Phomvihane, President of The National Assembly of The Lao PDR, Vice President Sommad Pholsena, Deputy Prime Minister Sonexay Siphandone, Bounkham Vorachit, Minister of Natural Resources and Environment, Bounchom Oubonpaseuth, Minister of Finance, Daovong Phonekeo, Minister of Energy and Minerals, Deputy Minister Tongpath Inthavong, Santipharp Phomvihane, Secretary of Savannakhét Provincial Party Committee and Governor, and other leaders of the Lao Government and relevant departments in Vientiane. The Lao Government and relevant departments spoke highly of and fully affirmed LXML’s contribution to Laos’ fiscal revenue, employment of local employees, environmental protection, community development and other economic and social aspects in recent years. Chifeng Gold was welcomed to continue to increase investment, and strong support would be provided for Chifeng Gold to further expand the integration and development of gold, copper and rare earth resources in Laos. The Lao Government would provide a bigger development platform and strengthen all-round cooperation between the two sides.

Wang Jianhua also met with Bounyong Sydavong,Chairman of Lao Mining Development State Enterprise, Sun Fenglei, General Manager of Vientiane Branch of Industrial and Commercial Bank of China, and other enterprise leaders, and conducted full exchanges on topics such as cooperative development of resources and cooperation between banks and enterprises.