一、Century-Old Mine "Poised for Action"

The Luanshya New Mine Project (abbreviated as "Luanshya New Mine") is the "cornerstone project" for CNMC Luanshya's high-quality sustainable development and a key construction project for China Nonferrous Metal Mining Group to increase reserves and production. The project consists of two major projects encompassing three mines: the Muliashi South Shallow and Mashiba Joint Mining Project (referred to as the "Shallow Project") and the 28# Shaft Deep Sulfide Ore Mining Project (referred to as the "Deep Project"). The planned annual mining and processing capacity is 800,000 tons for the Shallow Project and 2.2 million tons for the Deep Project, with a mine service life of 18 years. This development will create significant economic and social value for Zambia.

?

Since the project initiated water drainage in May 2024, approximately 50 million cubic meters of water have been drained, with the water level dropping by more than 400 meters, completing 55% of the total drainage task. This has created favorable conditions for developing the shallow resources of the project. The Luanshya New Mine Project is characterized by tight schedules, heavy tasks, and high standards. To accelerate construction progress and achieve the goal of prioritizing the completion and commissioning of the Shallow Project by 2026, Luanshya Company has identified four key engineering initiatives: First, establishing a temporary ventilation system for the construction period in advance, with two fan stations now successfully operating and good underground ventilation conditions; Second, restoring the collapsed sections of the ramp near the surface, with interconnection between the surface and various levels expected to be achieved in March, enabling normal access for personnel and equipment; Third, converting the Muliashi South service shaft into a temporary hoisting shaft, creating a second emergency exit; Fourth, conducting supplementary engineering geological and hydrogeological surveys, as well as carrying out measurement, orientation, and tunnel clearing work. These key engineering initiatives will provide the basis for the design, review, and project approval of the Luanshya New Mine Project, creating conditions to accelerate construction of the Shallow Project.

Work commences at the start of spring.On the morning of 8:18 am, April 9, 2024, the construction of LCS's key slag flotation project ushered in the "March Forward Melody" of spring. Accompanied by a resounding round of applause, Yang Wei, General Manager of Luaraba Copper Smelter S.A.S (hereinafter referred to as "LCS"), announced the official groundbreaking of the slag flotation engineering project.The groundbreaking ceremony took place at the slag flotation project site, hosted by the slag flotation project department of China 15th Metallurgical Construction Group Co., Ltd. LCS General Manager Yang Wei and members of the on-site leadership team, as well as members of the slag flotation project team, attended the event.

?

At 10 a.m. on March 24, 2024 (Democratic Republic of the Congo time), the " Mabende Digital Energy Project Signing Ceremony" was successfully held at the headquarters of China Nonferrous Mining Hong Kong Holdings Limited in Lubumbashi. Chen Zhimin, Chairman of China Nonferrous Mining Hong Kong Holdings Limited, and Wang Fangqing, General Manager of the joint venture company with China Sixth Metallurgical Construction Co., Ltd. (Democratic Republic of the Congo), signed on behalf of both parties. This marked China Nonferrous Mining Hong Kong Holdings Limited as the first Chinese mining company to take substantive steps in exploring solutions to alleviate the local mining area's power supply shortage.