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Chifeng Gold-Xiamen Tungsten JV Suspends Operations in Laos Mine

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The joint venture between Chifeng Jilong Gold Mining (SHA:600988) and Xiamen Tungsten suspended operations in its rare earth project in Laos, according to separate Saturday filings with the Shanghai Stock Exchange.

Xiamen Chijinxia Tungsten Metal Resources halted operations at the Mengkang Rare Earth Project in Xiengkhouang Province temporarily to comply with regulatory requirements for rare earth development, Xiameng Tungsten said.

Chifeng Jilong's board approved the suspension, it said in its filing.

The mine is in trial production mode and has about 124.7 million tons of rare-earth ore reserves.

The JV is uncertain when it will resume operations, Xiamen Tungsten said.

Chifeng Jilong Gold Mining holds 51% of the JV, while Xiamen Tungsten holds 49%.

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