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Shengda Resources Secures Approval for Inner Mongolia Mine Expansion Project

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Shengda Resources (SHE:000603) 62.96%-owned Yindu Mining obtained the approval of China's Inner Mongolian government for a 900,000-tons-per-year technical transformation project at the Bairendaba silver-polymetallic mine.

The project follows the integration of a 1.4-square-kilometer exploration area into the existing mining rights, expanding the licensed area to 5.5 square kilometers, according to a Friday filing with the Shenzhen bourse.

The upgrade, which requires additional underground works and system optimization, will enable legal mining of extended resources while maintaining current production capacity.

Shares of the mineral products manufacturer jumped 10% Friday.

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