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Zijin Longking Unit to Invest $55 Million in Solar, Energy Storage Facility for Guyana Gold Mine; Shares Rise 3%

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Zijin Longking (SHA:600388) subsidiary Zijin Longking Clean Energy will invest $55.2 million to build a photovoltaic and energy storage project for its underground mining plant in Guyana, according to a Thursday filing with the Shanghai bourse.

The power facility has a solar component with a capacity of 45 megawatts peak and an energy storage component with a capacity of 100 megawatt-hours.

Longking estimates construction to finish in the fourth quarter of 2027, with a lifespan of 30 years following completion and expected power generation of 61.8 million kWh.

Zijin Mining (HKG:2899, SHA:601899) owns and operates the gold mine through Zijin Gold International (HKG:2259).

Company shares rose 3% during afternoon trading on Thursday.

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